BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA) Sees Significant Growth in Short Interest

Key Points

• Short interest in BlackRock MuniYield Pennsylvania Quality Fund increased by 55.8% in July, reaching 24,000 shares, with a days-to-cover ratio of 0.4 days.
• Insider Saba Capital Management sold 25,184 shares, reducing its position by 1.94%, while insiders overall sold 78,377 shares worth $848,526 over the last quarter.
• The fund announced a monthly dividend of $0.066, payable on September 2nd, representing a 7.4% dividend yield.

BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA - ) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 24,000 shares, anincreaseof55.8% from the July 15th total of 15,400 shares. Based on an average daily trading volume, of 63,600 shares, the days-to-cover ratio is currently 0.4 days. Currently,0.2% of the company's stock are sold short. Currently,0.2% of the company's stock are sold short. Based on an average daily trading volume, of 63,600 shares, the days-to-cover ratio is currently 0.4 days.

Insiders Place Their Bets

In other BlackRock MuniYield Pennsylvania Quality Fund news, major shareholder Saba Capital Management, L.P. sold 25,184 shares of BlackRock MuniYield Pennsylvania Quality Fund stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $10.82, for a total transaction of $272,490.88. Following the completion of the sale, the insider owned 1,274,468 shares of the company's stock, valued at approximately $13,789,743.76. The trade was a 1.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 78,377 shares of company stock worth $848,526. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On BlackRock MuniYield Pennsylvania Quality Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. raised its holdings in BlackRock MuniYield Pennsylvania Quality Fund by 5.6% in the 2nd quarter. Raymond James Financial Inc. now owns 18,957 shares of the investment management company's stock worth $205,000 after purchasing an additional 1,000 shares during the period. Royal Bank of Canada raised its holdings in BlackRock MuniYield Pennsylvania Quality Fund by 2.3% in the 1st quarter. Royal Bank of Canada now owns 66,568 shares of the investment management company's stock worth $746,000 after purchasing an additional 1,500 shares during the period. Aviance Capital Partners LLC raised its holdings in BlackRock MuniYield Pennsylvania Quality Fund by 12.4% in the 1st quarter. Aviance Capital Partners LLC now owns 15,781 shares of the investment management company's stock worth $177,000 after purchasing an additional 1,746 shares during the period. Janney Montgomery Scott LLC raised its holdings in BlackRock MuniYield Pennsylvania Quality Fund by 6.5% in the 1st 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 period. Finally, Bank of America Corp DE raised its holdings in BlackRock MuniYield Pennsylvania Quality Fund by 2.8% in the 4th quarter. Bank of America Corp DE now owns 110,813 shares of the investment management company's stock worth $1,293,000 after purchasing an additional 3,016 shares during the period. Institutional investors and hedge funds own 24.70% of the company's stock.

BlackRock MuniYield Pennsylvania Quality Fund Stock Up 0.2%

BlackRock MuniYield Pennsylvania Quality Fund stock traded up $0.02 during trading hours on Tuesday, hitting $10.74. 23,239 shares of the stock traded hands, compared to its average volume of 47,553. The firm's 50 day moving average price is $10.72 and its 200-day moving average price is $11.00. BlackRock MuniYield Pennsylvania Quality Fund has a 1 year low of $10.26 and a 1 year high of $12.75.

BlackRock MuniYield Pennsylvania Quality Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be issued a $0.066 dividend. This represents a c) annualized dividend and a dividend yield of 7.4%. The ex-dividend date of this dividend is Friday, August 15th.

About BlackRock MuniYield Pennsylvania Quality Fund

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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