Home Hedge Funds Short Interest in BlackRock MuniYield Fund, Inc. (NYSE:MYD) Declines By 71.0%

Short Interest in BlackRock MuniYield Fund, Inc. (NYSE:MYD) Declines By 71.0%

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BlackRock MuniYield Fund, Inc. (NYSE:MYDGet Rating) saw a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 10,900 shares, a drop of 71.0% from the May 15th total of 37,600 shares. Based on an average daily volume of 162,300 shares, the days-to-cover ratio is presently 0.1 days.

Shares of NYSE MYD traded down $0.09 during midday trading on Friday, reaching $11.45. 133,065 shares of the company’s stock were exchanged, compared to its average volume of 153,602. BlackRock MuniYield Fund has a 52-week low of $10.73 and a 52-week high of $15.60. The business’s fifty day moving average price is $11.55 and its two-hundred day moving average price is $12.90.

The firm also recently announced a monthly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th will be given a dividend of $0.0515 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date is Tuesday, June 14th.

Several hedge funds and other institutional investors have recently made changes to their positions in MYD. Morgan Stanley grew its stake in BlackRock MuniYield Fund by 30.5% in the second quarter. Morgan Stanley now owns 306,515 shares of the financial services provider’s stock worth $4,628,000 after purchasing an additional 71,696 shares in the last quarter. HighTower Advisors LLC boosted its stake in BlackRock MuniYield Fund by 3.2% in the third quarter. HighTower Advisors LLC now owns 28,690 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 900 shares during the period. Invesco Ltd. boosted its stake in BlackRock MuniYield Fund by 35.6% in the third quarter. Invesco Ltd. now owns 193,511 shares of the financial services provider’s stock valued at $2,874,000 after acquiring an additional 50,808 shares during the period. First Manhattan Co. acquired a new position in BlackRock MuniYield Fund in the third quarter valued at approximately $80,000. Finally, Royal Bank of Canada boosted its stake in BlackRock MuniYield Fund by 16.7% in the third quarter. Royal Bank of Canada now owns 75,209 shares of the financial services provider’s stock valued at $1,117,000 after acquiring an additional 10,763 shares during the period. 13.55% of the stock is currently owned by institutional investors and hedge funds.

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About BlackRock MuniYield Fund (Get Rating)

BlackRock MuniYield Fund, Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in fixed income markets. The fund primarily in long-term investment-grade municipal bonds with a maturity of more than ten years. It is exempt from federal income taxes.

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