BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA) Stock Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• BlackRock MuniYield Pennsylvania Quality Fund (NYSE: MPA) moved above its 200-day moving average, trading as high as $11.36 and last changing hands at $11.3250.
• The fund recently declared a monthly dividend of $0.0477 per share, payable on October 1 to shareholders of record on September 15, implying an annualized yield of about 5.1%.
• Institutional ownership remains meaningful, with hedge funds and asset managers such as Rivernorth Capital, Wells Fargo, and LPL Financial recently increasing their stakes; institutions now own about 24.70% of the stock.

Shares of BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.29 and traded as high as $11.36. BlackRock MuniYield Pennsylvania Quality Fund shares last traded at $11.3250, with a volume of 11,526 shares trading hands.

BlackRock MuniYield Pennsylvania Quality Fund Stock Performance

The company has a 50-day simple moving average of $11.30 and a two-hundred day simple moving average of $11.29.

BlackRock MuniYield Pennsylvania Quality Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a $0.0477 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 5.1%.

Institutional Trading of BlackRock MuniYield Pennsylvania Quality Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC grew its position in shares of BlackRock MuniYield Pennsylvania Quality Fund by 2.4% in the 4th quarter. Rivernorth Capital Management LLC now owns 1,067,392 shares of the investment management company's stock valued at $11,827,000 after acquiring an additional 24,528 shares during the period. Wells Fargo & Company MN raised its holdings in shares of BlackRock MuniYield Pennsylvania Quality Fund by 9.0% in the 4th quarter. Wells Fargo & Company MN now owns 897,743 shares of the investment management company's stock valued at $9,947,000 after purchasing an additional 74,171 shares during the period. Sit Investment Associates Inc. lifted its stake in BlackRock MuniYield Pennsylvania Quality Fund by 2.3% in the 4th quarter. Sit Investment Associates Inc. now owns 168,799 shares of the investment management company's stock valued at $1,870,000 after purchasing an additional 3,729 shares during the last quarter. Fiera Capital Corp acquired a new stake in BlackRock MuniYield Pennsylvania Quality Fund in the 4th quarter valued at about $1,792,000. Finally, LPL Financial LLC grew its holdings in BlackRock MuniYield Pennsylvania Quality Fund by 23.3% during the fourth quarter. LPL Financial LLC now owns 120,031 shares of the investment management company's stock worth $1,330,000 after purchasing an additional 22,700 shares during the period. 24.70% of the stock is owned by institutional investors.

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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