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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No 10)
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)
February 9, 1999
(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
I.D.# 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
New York
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7 SOLE VOTING POWER
543,350
NUMBER OF ------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
EACH ------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 543,350
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10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
543,350
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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)
6.96%
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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
with respect 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
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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
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a) As of the date of this Report, KIM owns 543,350 shares which
represents 6.96 % 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 last 60 days.
There have been no disposition and no acquisitions, other than by such
open market purchases and sales during such period.
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DATE SHARES PRICE PER DATE SHARES PRICE PER
SHARE SHARE
12/1/98 -1700 14.25 1/4/99 -3000 14.25
12/1/98 2100 14.125 1/12/99 -700 14.25
12/4/98 2000 14.125 1/29/99 -250 14.187
12/16/98 -2000 14.0625
12/16/98 2000 14.0625
12/21/98 800 14.125
12/22/98 900 14.125
12/23/98 100 14.125
12/28/98 -1750 14.25
12/28/98 -750 14.187
12/31/98 -150000 14.25
ITEM 6 Contract, Arrangements, Understandings, or Relationships
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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.
February 9, 1999 By: /s/ Scott Nasca
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Date Signature
Scott Nasca, Vice President
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Name / Title
