SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No 31)
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)
November 6, 2000
(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)
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
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 580,705 shares which
represents 7.44% of the outstanding Shares. None of the 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.
DATE
SHARES
PRICE PER
DATE
SHARES
PRICE PER
SHARE
SHARE
9/1/00
-1900
13.75
10/2/00
2550
13.5
9/5/00
-1400
13.75
10/3/00
450
13.5625
9/7/00
-1300
13.6875
10/18/00
300
13.625
9/7/00
-1600
13.75
10/20/00
2000
13.625
9/11/00
4600
13.625
10/25/00
3500
13.625
9/11/00
-4700
13.6875
10/26/00
800
13.625
9/12/00
1500
13.625
10/30/00
2300
13.625
9/12/00
-1700
13.6875
9/13/00
3900
13.625
9/13/00
-6200
13.6875
9/14/00
5100
13.625
9/14/00
-6800
13.6875
9/15/00
3850
13.625
9/18/00
7400
13.625
9/19/00
1800
13.5625
9/19/00
4500
13.625
9/20/00
1100
13.5625
9/21/00
5900
13.5625
9/22/00
6200
13.5625
9/25/00
500
13.5625
9/25/00
2250
13.625
9/25/00
3300
13.5
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.
November 6, 2000 By:_____________________
Date Signature
George W. Karpus, President
Name / Title
