Short Interest in BlackRock MuniYield Fund, Inc. (NYSE:MYD) Drops By 71.8%

BlackRock MuniYield Fund, Inc. (NYSE:MYD) was the recipient of a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 13,200 shares, a drop of 71.8% from the May 31st total of 46,800 shares. Based on an average daily volume of 131,300 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On BlackRock MuniYield Fund

Several hedge funds have recently made changes to their positions in MYD. Principal Securities Inc. bought a new stake in BlackRock MuniYield Fund during the 4th quarter worth approximately $69,000. Axxcess Wealth Management LLC purchased a new stake in shares of BlackRock MuniYield Fund in the third quarter worth $92,000. Simon Quick Advisors LLC boosted its stake in BlackRock MuniYield Fund by 11.2% during the fourth quarter. Simon Quick Advisors LLC now owns 12,961 shares of the financial services provider’s stock valued at $140,000 after buying an additional 1,304 shares during the period. Weiss Asset Management LP purchased a new position in BlackRock MuniYield Fund during the fourth quarter worth about $141,000. Finally, Evergreen Capital Management LLC bought a new position in BlackRock MuniYield Fund in the 3rd quarter worth about $154,000. 33.77% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock MuniYield Fund Stock Performance

Shares of MYD stock traded up $0.04 during trading on Thursday, reaching $10.80. 108,837 shares of the company’s stock traded hands, compared to its average volume of 187,026. BlackRock MuniYield Fund has a 1 year low of $8.76 and a 1 year high of $11.30. The firm’s 50-day moving average is $10.71 and its 200 day moving average is $10.80.

BlackRock MuniYield Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.0525 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date is Friday, June 14th.

BlackRock MuniYield Fund Company Profile

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.