BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA) Sees Large Decrease in Short Interest

Key Points

• Short interest in the BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA) decreased by 43.3% in August, with only 13,600 shares reported as of August 15th.
• Several large institutional investors, including Osaic Holdings Inc. and Raymond James Financial Inc., have increased their stakes in the fund, reflecting growing confidence.
• The fund declared a monthly dividend of $0.066 per share, which will yield approximately 7.2% annually, to be paid on October 1st.

BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA - ) was the target of a large decline in short interest in August. As of August 15th, there was short interest totaling 13,600 shares, adeclineof43.3% from the July 31st total of 24,000 shares. Based on an average trading volume of 59,600 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 59,600 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On BlackRock MuniYield Pennsylvania Quality Fund

A number of large investors have recently added to or reduced their stakes in MPA. Osaic Holdings Inc. raised its holdings in BlackRock MuniYield Pennsylvania Quality Fund by 50.4% in the second quarter. Osaic Holdings Inc. now owns 57,496 shares of the investment management company's stock valued at $620,000 after acquiring an additional 19,266 shares in the last quarter. Raymond James Financial Inc. raised its holdings in BlackRock MuniYield Pennsylvania Quality Fund by 5.6% in the second quarter. Raymond James Financial Inc. now owns 18,957 shares of the investment management company's stock valued at $205,000 after acquiring an additional 1,000 shares in the last quarter. Ethos Financial Group LLC acquired a new stake in BlackRock MuniYield Pennsylvania Quality Fund in the second quarter valued at $271,000. Aviance Capital Partners LLC raised its holdings in BlackRock MuniYield Pennsylvania Quality Fund by 13.8% in the second quarter. Aviance Capital Partners LLC now owns 17,959 shares of the investment management company's stock valued at $194,000 after acquiring an additional 2,178 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in BlackRock MuniYield Pennsylvania Quality Fund by 2.3% in the first quarter. Royal Bank of Canada now owns 66,568 shares of the investment management company's stock valued at $746,000 after acquiring an additional 1,500 shares in the last quarter. 24.70% of the stock is owned by institutional investors and hedge funds.

BlackRock MuniYield Pennsylvania Quality Fund Price Performance

MPA traded up $0.14 during trading hours on Friday, reaching $10.97. 49,846 shares of the stock traded hands, compared to its average volume of 22,246. The firm's fifty day simple moving average is $10.73 and its two-hundred day simple moving average is $10.92. BlackRock MuniYield Pennsylvania Quality Fund has a fifty-two week low of $10.26 and a fifty-two week high of $12.75.

BlackRock MuniYield Pennsylvania Quality Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a dividend of $0.066 per share. This represents a c) dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Monday, September 15th.

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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