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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)
2002 Target Term Trust, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
902106103
(CUSIP Number)
George W. Karpus, President
Karpus Management, Inc. d/b/a
Karpus Investment Management
14 Tobey Village Office Park
Pittsford, New York 14534
(716) 586-4680
(Name, Address, and Telephone Number of Person Authorized to
Receive Notices and Communications)
April 7, 1998
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is subject of the 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)
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SCHEDULE 13D
CUSIP No. 902106103 Page 2 of 4 Pages
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Karpus Management, Inc. d/b/a Karpus Investment Management
ID# 16-1290558
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2. Check the Appropriate Box if a Member of a Group* (a) / /
(b) /X/
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3. SEC Use Only
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4. Source of Funds*
AF
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5. Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) / /
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6. Citizenship or Place of Organization
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7. Sole Voting Power
Number of 482,475 Shares
Shares -------------------------------------------------------------
Beneficially 8. Shared Voting Power
Owned by
Each
Reporting -------------------------------------------------------------
Person 9. Sole Dispositive Power
With
482,475 Shares
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10. Shared Dispositive Power
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
482,475 Shares
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12. Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares* / /
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13. Percent of Class Represented by Amount in Row (11)
6.18%
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14. Type of Reporting Person*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 2 of 7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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ITEM 1 Security and Issuer
Common Stock
2002 Target Term Trust, Inc. ("TTR")
1285 Avenue of the Americas
New York, New York 10019
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) 14 Tobey Village Office Park, Pittsford, New York 14534
c) Principal business and occupation- Investment Management for
individuals, pension and profit sharing plans, corporations,
endowments, trusts 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 5 years of any criminal proceeding (excluding traffic
violations).
e) During the last five years non 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 respec to
such laws.
f) Each of the Principals is a United States citizen. KIM is
a New York State corporation.
ITEM 3 Source and Amount of Funds or Other Considerations
KIM, an independent investment advisor, has accumulated shares
of TTR 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 conservative, fixed income manager, with a
specialty focus in the closed-end fund sector, the profile of
TTR (being a conservative investment grade fund) fit the
investment guidelines for various Accounts.
ITEM 5 Interest in Securities of the Issuer
a) As of the date of this Report, KIM owns 482,475 shares
which represents 6.18% of the outstanding Shares. George W. Karpus
owns 1,500 shares purchased on December 13,1996 at a price of
$13.625 per share. None of the other Principals or KIM 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 and sales for the past 120 days.
Transactions before this date previously reported.
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Price Per Price Per
Date Shares Share Date Shares Share
12/9/97 -750 13.5625 2/4/98 3,600 13.75
12/12/97 1,400 13.5625 2/5/98 1,000 13.8125
12/15/97 1,600 13.5625 3/5/98 -1,800 13.8125
12/24/97 700 13.5625 3/6/98 -2,100 13.8125
12/31/97 3,450 13.5625 3/9/98 -100 13.8125
1/5/98 200 13.75 3/10/98 -5,200 13.8125
1/6/98 1,800 13.75 3/11/98 -4,800 13.8125
1/7/98 -3,500 13.875 3/16/98 -1,600 13.8125
1/7/98 3,100 13.75 3/20/98 100 13.8125
1/14/98 4,200 14 3/23/98 9,400 13.8125
1/15/98 2,000 14 3/24/98 5,100 13.8125
2/2/98 5,700 13.75 3/25/98 3,900 13.8125
2/2/98 2,000 13.8125
There have been no disposition and no acquisitions, other than by
such open market purchases and sales, during such period.
ITEM 6 Contract, 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 TTR 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.
April 7, 1998 By: /s/ George W. Karpus Pres
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Date Signature
George W. Karpus, President
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Name / Title
