BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA) Sees Large Increase in Short Interest
by Michael Walen · The Markets DailyBlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA – Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 21,173 shares, an increase of 66.8% from the February 26th total of 12,696 shares. Based on an average trading volume of 32,917 shares, the short-interest ratio is presently 0.6 days. Approximately 0.2% of the company’s shares are short sold.
BlackRock MuniYield Pennsylvania Quality Fund Stock Performance
NYSE:MPA traded down $0.07 on Friday, hitting $10.83. 27,174 shares of the stock were exchanged, compared to its average volume of 31,621. The stock has a fifty day moving average of $11.37 and a 200-day moving average of $11.33. BlackRock MuniYield Pennsylvania Quality Fund has a fifty-two week low of $10.26 and a fifty-two week high of $11.65.
BlackRock MuniYield Pennsylvania Quality Fund Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be issued a dividend of $0.0477 per share. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the business. Fiera Capital Corp purchased a new stake in BlackRock MuniYield Pennsylvania Quality Fund during the fourth quarter worth approximately $1,792,000. Wolverine Asset Management LLC purchased a new position in shares of BlackRock MuniYield Pennsylvania Quality Fund in the 4th quarter valued at $880,000. Wells Fargo & Company MN raised its stake in shares of BlackRock MuniYield Pennsylvania Quality Fund by 9.0% in the 4th quarter. Wells Fargo & Company MN now owns 897,743 shares of the investment management company’s stock valued at $9,947,000 after acquiring an additional 74,171 shares during the period. Yakira Capital Management Inc. acquired a new position in shares of BlackRock MuniYield Pennsylvania Quality Fund during the 3rd quarter valued at $488,000. Finally, Rivernorth Capital Management LLC lifted its holdings in shares of BlackRock MuniYield Pennsylvania Quality Fund by 2.4% during the 4th quarter. Rivernorth Capital Management LLC now owns 1,067,392 shares of the investment management company’s stock valued at $11,827,000 after acquiring an additional 24,528 shares in the last quarter. Hedge funds and other institutional investors own 24.70% of the company’s stock.
About BlackRock MuniYield Pennsylvania Quality Fund
BlackRock MuniYield Pennsylvania Quality Fund (NYSE: MPA) is a non-diversified, closed-end management investment company whose primary objective is to provide shareholders with current income exempt from regular U.S. federal and Pennsylvania personal income taxes, and to a lesser extent, capital appreciation. The fund pursues its objective by investing in municipal securities that are issued by or for the benefit of the Commonwealth of Pennsylvania and its political subdivisions.
In managing its portfolio, the fund typically allocates at least 80% of its assets to investment-grade municipal bonds issued within Pennsylvania.