BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA) Short Interest Up 114.8% in May

BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA - Get Free Report) was the recipient of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 24,700 shares, an increase of 114.8% from the May 15th total of 11,500 shares. Based on an average daily trading volume, of 52,100 shares, the short-interest ratio is currently 0.5 days. Currently, 0.2% of the company's stock are short sold.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 63,885 shares of the firm's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $10.46, for a total transaction of $668,237.10. Following the transaction, the insider now owns 1,908,124 shares in the company, valued at approximately $19,958,977.04. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 500,714 shares of company stock worth $5,445,666. Company insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On BlackRock MuniYield Pennsylvania Quality Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Shufro Rose & Co. LLC purchased a new position in BlackRock MuniYield Pennsylvania Quality Fund in the first quarter valued at about $168,000. Aviance Capital Partners LLC grew 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 purchasing an additional 1,746 shares during the last quarter. Janney Montgomery Scott LLC grew its stake 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 valued at $332,000 after purchasing an additional 1,800 shares during the last quarter. Santori & Peters Inc. purchased a new position in BlackRock MuniYield Pennsylvania Quality Fund in the first quarter valued at about $112,000. Finally, Merit Financial Group LLC purchased a new stake in shares of BlackRock MuniYield Pennsylvania Quality Fund during the first quarter worth about $319,000. Hedge funds and other institutional investors own 24.70% of the company's stock.

BlackRock MuniYield Pennsylvania Quality Fund Price Performance

MPA traded down $0.14 on Friday, hitting $10.68. The company had a trading volume of 28,214 shares, compared to its average volume of 29,809. The stock has a fifty day moving average price of $10.82 and a 200-day moving average price of $11.39. BlackRock MuniYield Pennsylvania Quality Fund has a 12-month low of $10.26 and a 12-month high of $12.75.

BlackRock MuniYield Pennsylvania Quality Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.066 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.79 annualized dividend and a yield of 7.42%.

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.