BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA) Short Interest Up 66.8% in March

Key Points

• Short interest in BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA) rose 66.8% in March to 21,173 shares, about 0.2% of shares outstanding and a short-interest ratio of 0.6 days.
• The fund announced a monthly dividend of $0.0477 payable July 1 (record/ex-dividend date June 15), implying an approximate 5.3% annualized yield.
• Shares traded at $10.83 midday, within a 52-week range of $10.26–$11.65 and with 50- and 200-day moving averages near $11.38 and $11.33, respectively.

BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 21,173 shares, a growth of 66.8% from the February 26th total of 12,696 shares. Based on an average daily volume of 32,917 shares, the short-interest ratio is currently 0.6 days. Approximately 0.2% of the company's stock are sold short.

BlackRock MuniYield Pennsylvania Quality Fund Stock Performance

Shares of BlackRock MuniYield Pennsylvania Quality Fund stock traded down $0.07 during midday trading on Friday, hitting $10.83. The company had a trading volume of 27,174 shares, compared to its average volume of 37,022. BlackRock MuniYield Pennsylvania Quality Fund has a 52-week low of $10.26 and a 52-week high of $11.65. The company has a 50 day moving average of $11.38 and a 200 day moving average of $11.33.

BlackRock MuniYield Pennsylvania Quality Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.0477 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Monday, June 15th.

Hedge Funds Weigh In On BlackRock MuniYield Pennsylvania Quality Fund

Several large investors have recently modified their holdings of the stock. Elyxium Wealth LLC bought a new position in BlackRock MuniYield Pennsylvania Quality Fund in the 4th quarter worth about $27,000. Kestra Advisory Services LLC bought a new stake in BlackRock MuniYield Pennsylvania Quality Fund during the 4th quarter valued at about $39,000. Bank of Montreal Can purchased a new position in BlackRock MuniYield Pennsylvania Quality Fund in the fourth quarter worth about $137,000. Royal Bank of Canada lifted its stake in shares of BlackRock MuniYield Pennsylvania Quality Fund by 44.2% in the fourth quarter. Royal Bank of Canada now owns 16,303 shares of the investment management company's stock worth $181,000 after buying an additional 5,000 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its stake in shares of 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 worth $205,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 24.70% of the company's stock.

About BlackRock MuniYield Pennsylvania Quality Fund

BlackRock MuniYield Pennsylvania Quality Fund NYSE: MPA is a non-diversified, closed-end management investment company whose primary objective is to provide shareholders with current income exempt from regular U.S. federal and Pennsylvania personal income taxes, and to a lesser extent, capital appreciation. The fund pursues its objective by investing in municipal securities that are issued by or for the benefit of the Commonwealth of Pennsylvania and its political subdivisions.

In managing its portfolio, the fund typically allocates at least 80% of its assets to investment-grade municipal bonds issued within Pennsylvania.

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