BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA) Short Interest Up 58.9% in March

BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA - Get Free Report) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 8,900 shares, an increase of 58.9% from the March 15th total of 5,600 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 31,100 shares, the short-interest ratio is currently 0.3 days.

Insider Activity at BlackRock MuniYield Pennsylvania Quality Fund

In other news, major shareholder Saba Capital Management, L.P. sold 3,268 shares of the business's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $11.84, for a total value of $38,693.12. Following the sale, the insider now owns 2,202,857 shares of the company's stock, valued at $26,081,826.88. The trade was a 0.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 186,516 shares of company stock worth $2,104,143. Insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On BlackRock MuniYield Pennsylvania Quality Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. purchased a new stake in BlackRock MuniYield Pennsylvania Quality Fund in the 4th quarter worth approximately $546,000. Merit Financial Group LLC bought a new position in BlackRock MuniYield Pennsylvania Quality Fund in the 1st quarter worth about $319,000. Wolverine Asset Management LLC boosted its position in shares of BlackRock MuniYield Pennsylvania Quality Fund by 100.0% during the 4th quarter. Wolverine Asset Management LLC now owns 37,488 shares of the investment management company's stock valued at $437,000 after acquiring an additional 18,743 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of BlackRock MuniYield Pennsylvania Quality Fund in the fourth quarter worth approximately $198,000. Finally, Nomura Holdings Inc. purchased a new stake in BlackRock MuniYield Pennsylvania Quality Fund in the fourth quarter valued at approximately $184,000. 24.70% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniYield Pennsylvania Quality Fund Trading Up 0.6 %

MPA stock traded up $0.06 during midday trading on Wednesday, reaching $10.74. 39,751 shares of the company's stock traded hands, compared to its average volume of 25,399. BlackRock MuniYield Pennsylvania Quality Fund has a 52 week low of $10.26 and a 52 week high of $12.82. The company has a 50-day moving average price of $11.21 and a two-hundred day moving average price of $11.73.

BlackRock MuniYield Pennsylvania Quality Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.066 per share. This represents a $0.79 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date of this dividend is Tuesday, April 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.