BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT) Short Interest Update

by · The Markets Daily

BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT – Get Free Report) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 237,693 shares, an increase of 37.7% from the November 30th total of 172,645 shares. Based on an average trading volume of 477,844 shares, the days-to-cover ratio is presently 0.5 days. Based on an average trading volume of 477,844 shares, the days-to-cover ratio is presently 0.5 days.

BlackRock Corporate High Yield Fund Price Performance

BlackRock Corporate High Yield Fund stock traded up $0.03 during trading on Wednesday, reaching $8.91. The company had a trading volume of 1,426,508 shares, compared to its average volume of 735,550. BlackRock Corporate High Yield Fund has a 12-month low of $7.84 and a 12-month high of $10.02. The stock’s 50 day moving average price is $9.31 and its two-hundred day moving average price is $9.50.

BlackRock Corporate High Yield Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be issued a $0.0779 dividend. The ex-dividend date is Monday, December 22nd. This represents a c) dividend on an annualized basis and a yield of 10.5%.

Hedge Funds Weigh In On BlackRock Corporate High Yield Fund

A number of large investors have recently modified their holdings of the company. Magnus Financial Group LLC raised its stake in shares of BlackRock Corporate High Yield Fund by 50.0% during the second quarter. Magnus Financial Group LLC now owns 30,000 shares of the investment management company’s stock valued at $292,000 after purchasing an additional 10,000 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in BlackRock Corporate High Yield Fund by 53.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,016 shares of the investment management company’s stock worth $421,000 after buying an additional 14,951 shares during the period. Ameritas Advisory Services LLC acquired a new position in BlackRock Corporate High Yield Fund in the 2nd quarter worth $75,000. Brookstone Capital Management lifted its holdings in BlackRock Corporate High Yield Fund by 9.1% in the 2nd quarter. Brookstone Capital Management now owns 20,669 shares of the investment management company’s stock worth $202,000 after buying an additional 1,716 shares in the last quarter. Finally, Advisors Capital Management LLC boosted its position in BlackRock Corporate High Yield Fund by 47.0% in the 1st quarter. Advisors Capital Management LLC now owns 31,900 shares of the investment management company’s stock valued at $306,000 after buying an additional 10,200 shares during the last quarter.

About BlackRock Corporate High Yield Fund

(Get Free Report)

BlackRock Corporate High Yield Fund (NYSE: HYT) is a diversified, closed-end management investment company designed to offer investors exposure to the credit market’s higher-yielding segment. The fund primarily seeks to generate high current income by investing in below-investment-grade corporate debt securities across a broad range of industries. It may also allocate a portion of its assets to investment-grade bonds and cash equivalents, allowing for flexible portfolio positioning in response to market conditions.

HYT’s investment strategy emphasizes bottom-up credit research, focusing on issuers with strong cash flow potential and sound balance sheets relative to their high-yield peers.

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