Short Interest in BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA) Drops By 22.0%

Key Points

• Short interest in BlackRock MuniYield Pennsylvania Quality Fund (MPA) fell 22.0% to 16,506 shares as of March 31, giving a short‑interest ratio of 0.6 days and just 0.1% of shares sold short.
• The fund declared a monthly dividend of $0.0477 (ex‑dividend and record date June 15; payable July 1), implying an annualized yield of about 5.0%.
• MPA is a non‑diversified, closed‑end fund that typically allocates at least 80% of its assets to investment‑grade municipal bonds issued for the benefit of Pennsylvania, aiming to provide federally and Pennsylvania tax‑exempt income.

BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA - Get Free Report) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 16,506 shares, a decline of 22.0% from the March 15th total of 21,173 shares. Based on an average daily volume of 29,918 shares, the short-interest ratio is presently 0.6 days. Currently, 0.1% of the company's stock are sold short.

BlackRock MuniYield Pennsylvania Quality Fund Stock Performance

Shares of MPA stock opened at $11.35 on Wednesday. BlackRock MuniYield Pennsylvania Quality Fund has a fifty-two week low of $10.50 and a fifty-two week high of $11.65. The stock's 50-day simple moving average is $11.30 and its 200-day simple moving average is $11.31.

BlackRock MuniYield Pennsylvania Quality Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a $0.0477 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 5.0%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Rivernorth Capital Management LLC raised its stake in 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 purchasing an additional 24,528 shares during the last quarter. Wells Fargo & Company MN raised its stake in 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 last quarter. Sit Investment Associates Inc. raised 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 position in BlackRock MuniYield Pennsylvania Quality Fund in the 4th quarter valued at $1,792,000. Finally, LPL Financial LLC raised its stake in BlackRock MuniYield Pennsylvania Quality Fund by 23.3% in the 4th quarter. LPL Financial LLC now owns 120,031 shares of the investment management company's stock valued at $1,330,000 after purchasing an additional 22,700 shares during the last quarter. 24.70% of the stock is owned by institutional investors and hedge funds.

BlackRock MuniYield Pennsylvania Quality Fund Company Profile

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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