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

Key Points

• Short interest fell 41% to 9,019 shares as of September 15, from 15,279 shares at the end of August. Short interest represents 0.1% of shares outstanding, with a days-to-cover ratio of 0.3.
• MPA shares traded at $9.76, near the lower end of their 52-week range of $9.56 to $11.87 and below both the 50-day and 200-day moving averages.
• The fund declared a monthly dividend of $0.0477 per share, equivalent to $0.57 annually and a 5.9% yield; institutional investors own 24.7% of the fund.

BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA - Get Free Report) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 9,019 shares, a decrease of 41.0% from the August 31st total of 15,279 shares. Based on an average daily trading volume, of 29,292 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company's shares are sold short.

BlackRock MuniYield Pennsylvania Quality Fund Price Performance

Shares of MPA traded up $0.17 during mid-day trading on Wednesday, hitting $9.76. 30,178 shares of the company's stock traded hands, compared to its average volume of 31,992. BlackRock MuniYield Pennsylvania Quality Fund has a 1 year low of $9.56 and a 1 year high of $11.87. The business's 50-day moving average price is $10.73 and its 200-day moving average price is $11.07.

BlackRock MuniYield Pennsylvania Quality Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be issued a $0.0477 dividend. The ex-dividend date is Friday, December 11th. This represents a $0.57 dividend on an annualized basis and a yield of 5.9%.

Hedge Funds Weigh In On BlackRock MuniYield Pennsylvania Quality Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MPA. Sit Investment Associates Inc. lifted its stake in BlackRock MuniYield Pennsylvania Quality Fund by 2.3% during 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 acquiring an additional 3,729 shares during the period. Fiera Capital Corp bought a new position in shares of BlackRock MuniYield Pennsylvania Quality Fund in the fourth quarter worth about $1,792,000. NewEdge Advisors LLC purchased a new stake in BlackRock MuniYield Pennsylvania Quality Fund during the 1st quarter valued at approximately $828,000. Cetera Investment Advisers increased its holdings in BlackRock MuniYield Pennsylvania Quality Fund by 9.5% in the 1st quarter. Cetera Investment Advisers now owns 29,720 shares of the investment management company's stock valued at $328,000 after acquiring an additional 2,586 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of BlackRock MuniYield Pennsylvania Quality Fund by 67.4% in the first quarter. Royal Bank of Canada now owns 27,298 shares of the investment management company's stock worth $301,000 after buying an additional 10,995 shares in the last quarter. 24.70% of the stock is owned by institutional investors.

About BlackRock MuniYield Pennsylvania Quality Fund

BlackRock MuniYield Pennsylvania Quality Fund, Inc NYSE: MPA is a closed-end management investment company that seeks to provide current income exempt from regular federal income tax and Pennsylvania personal income tax. The fund invests primarily in long-term municipal obligations issued by or on behalf of Pennsylvania and its local governments, as well as related public authorities and agencies.

Its portfolio may include bonds financing essential public services and infrastructure, such as education, transportation, utilities, health care, and housing.

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