SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Amendment No. 32) Under the Securities and Exchange Act of 1934 BLACKROCK BROAD INVESTMENT GRADE 2009 TERM TRUST BCT (Name of Issuer) Common Stock (Title of Class of Securities) 09247Q106 (CUSIP Number) George W. Karpus, President Karpus Management, Inc. d/b/a Karpus Investment Management 183 Sullys Trail Pittsford, New York 14534 (585) 586-4680 (Name, Address, and Telephone Number of Person Authorized to Receive Notices and Communications) June 9, 2003 (Date of Event which Requires Filing of this Statement) If the person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1 (b) (3) or (4), check the following box. [x] (Page 1 of 4 pages) There are no exhibits. ITEM 1 Security and Issuer Common Stock BlackRock Broad Investment Grade 2009 Term Trust BlackRock Financial Management L.P. 345 Park Ave., 31st Floor New York, New York 10154 ITEM 2 Identity and Background a) Karpus Management, Inc. d/b/a Karpus Investment Management (?KIM?) George W. Karpus, President, Director and Controlling Stockholder JoAnn VanDegriff, Vice President and Director Sophie Karpus, Director b) 183 Sullys Trail Pittsford, New York 14534 c) Principal business and occupation - Investment Management for individuals, pension and profit sharing plans, corporations, endowments, trust and others, specializing in conservative asset management (i.e. fixed income investments). d) None of George W. Karpus, JoAnn VanDegriff, or Sophie Karpus (?the Principals?) or KIM has been convicted in the past five years of any criminal proceeding (excluding traffic violations). e) During the last five years none of the principals or KIM has been a party to a civil proceeding as a result of which any of them is subject to a judgment, decree or final order enjoining future violations of or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. f) Each of the Principals is a United States citizen. KIM is a New York corporation. ITEM 3 Source and Amount of Funds or Other Considerations KIM, an independent investment advisor, has accumulated shares of BCT on behalf of accounts that are managed by KIM (?the Accounts?) under limited powers of attorney. All funds that have been utilized in making such purchases are from such Accounts. ITEM 4 Purpose of Transaction KIM has purchased Shares for investment purposes. Being primarily a fixed income manager, with a specialty focus in the closed end fund sector, the profile of BCT fit the investment guidelines for various Accounts. Shares have been acquired since March 2, 1995 at an initial price of $10.625 per share. ITEM 5 Interest in Securities of the Issuer a) As of the date of this Report, KIM owns 149,225 shares, which represents 5.05 % of the outstanding Shares. None of the Principals presently own shares. b) KIM has the sole power to dispose of and to vote all of such Shares under limited powers of attorney. c) Open market purchases or sales for the past 30 days. There have been no dispositions and no acquisitions, other than by such open market purchases, during such period unless indicated. DATE SHARES PRICE PER DATE SHARES PRICE PER SHARE SHARE 4/3/2003 -3000 16.38 5/22/2003 500 16.25 4/15/2003 -200 16.38 5/23/2003 50 16.25 4/16/2003 -600 16.38 5/23/2003 -18050 16.58 4/24/2003 -6200 16.38 The Accounts have the right to receive all dividends from, any proceeds from the sale of the Shares. None of the Accounts has an interest in shares constituting more than 5% of the Shares outstanding. ITEM 6 Contracts, Arrangements, Understandings, or Relationships with Respect to Securities of the Issuer. Except as described above, there are no contracts, arrangements, understandings or relationships of any kind among the Principals and KIM and between any of them and any other person with respect to any of BCT securities. ITEM 7 Materials to be Filed as Exhibits Not applicable. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete, and correct. Karpus Management, Inc. June 9, 2003 By: _____________________ Date Signature George W. Karpus, President Name / Title