BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA) Announces $0.07 Monthly Dividend

Key Points

• BlackRock MuniYield Pennsylvania Quality Fund announced a monthly dividend of $0.07, with an annual yield of 7.0%, payable on November 3rd to investors on record by October 15th.
• As of Thursday, MPA shares traded at $11.40, showing a slight increase, with a 52-week range between $10.26 and $12.56.
• Institutional investors and hedge funds collectively own 24.70% of the company's stock, with significant stake increases from firms like Bank of America and Janney Montgomery Scott.

BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA - Get Free Report) announced a monthly dividend on Wednesday, October 1st. Investors of record on Wednesday, October 15th will be given a dividend of 0.066 per share by the investment management company on Monday, November 3rd. This represents a c) annualized dividend and a yield of 7.0%. The ex-dividend date is Wednesday, October 15th.

BlackRock MuniYield Pennsylvania Quality Fund Stock Performance

Shares of MPA stock traded up $0.02 during trading hours on Thursday, hitting $11.40. 40,802 shares of the company were exchanged, compared to its average volume of 44,307. The company has a 50 day simple moving average of $10.96 and a two-hundred day simple moving average of $10.89. BlackRock MuniYield Pennsylvania Quality Fund has a fifty-two week low of $10.26 and a fifty-two week high of $12.56.

Institutional Investors Weigh In On BlackRock MuniYield Pennsylvania Quality Fund

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in BlackRock MuniYield Pennsylvania Quality Fund by 2.8% during the 4th quarter. Bank of America Corp DE now owns 110,813 shares of the investment management company's stock valued at $1,293,000 after purchasing an additional 3,016 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of BlackRock MuniYield Pennsylvania Quality Fund in the 1st quarter worth approximately $319,000. Janney Montgomery Scott LLC boosted its position in BlackRock MuniYield Pennsylvania Quality Fund by 6.5% in the first quarter. Janney Montgomery Scott LLC now owns 29,632 shares of the investment management company's stock worth $332,000 after purchasing an additional 1,800 shares during the last quarter. Santori & Peters Inc. purchased a new position in shares of BlackRock MuniYield Pennsylvania Quality Fund in the 1st quarter worth about $112,000. Finally, Aviance Capital Partners LLC boosted its stake in BlackRock MuniYield Pennsylvania Quality Fund by 12.4% in the first quarter. Aviance Capital Partners LLC now owns 15,781 shares of the investment management company's stock valued at $177,000 after acquiring an additional 1,746 shares during the last quarter. Institutional investors and hedge funds own 24.70% of the company's stock.

BlackRock MuniYield Pennsylvania Quality Fund Company Profile

BlackRock MuniYield Pennsylvania Quality Fund is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in long-term investment grade municipal obligations exempt from federal income taxes and Pennsylvania income taxes.

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