BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA) Short Interest Up 286.5% in April

BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA - Get Free Report) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 34,400 shares, an increase of 286.5% from the March 31st total of 8,900 shares. Based on an average trading volume of 36,300 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.3% of the company's stock are sold short.

BlackRock MuniYield Pennsylvania Quality Fund Stock Performance

MPA traded up $0.04 during trading hours on Wednesday, hitting $10.96. 3,404 shares of the stock were exchanged, compared to its average volume of 26,080. The stock has a 50-day simple moving average of $11.14 and a 200-day simple moving average of $11.68. BlackRock MuniYield Pennsylvania Quality Fund has a 12 month low of $10.26 and a 12 month high of $12.82.

BlackRock MuniYield Pennsylvania Quality Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given a $0.066 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.79 dividend on an annualized basis and a dividend yield of 7.23%.

Insider Buying and Selling

In other BlackRock MuniYield Pennsylvania Quality Fund news, major shareholder Saba Capital Management, L.P. sold 17,901 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $10.90, for a total transaction of $195,120.90. Following the transaction, the insider now owns 1,846,479 shares of the company's stock, valued at $20,126,621.10. This trade represents a 0.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 212,507 shares of company stock worth $2,373,709. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BlackRock MuniYield Pennsylvania Quality Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Amplius Wealth Advisors LLC bought a new stake in shares of BlackRock MuniYield Pennsylvania Quality Fund in the 4th quarter worth approximately $179,000. Wolverine Asset Management LLC lifted its stake in BlackRock MuniYield Pennsylvania Quality Fund by 100.0% in the fourth quarter. Wolverine Asset Management LLC now owns 37,488 shares of the investment management company's stock valued at $437,000 after buying an additional 18,743 shares during the last quarter. Raymond James Financial Inc. bought a new stake in BlackRock MuniYield Pennsylvania Quality Fund in the fourth quarter valued at $198,000. PNC Financial Services Group Inc. acquired a new position in shares of BlackRock MuniYield Pennsylvania Quality Fund during the fourth quarter valued at $546,000. Finally, LPL Financial LLC grew its position in shares of BlackRock MuniYield Pennsylvania Quality Fund by 7.0% during the fourth quarter. LPL Financial LLC now owns 78,437 shares of the investment management company's stock worth $915,000 after acquiring an additional 5,156 shares during the last quarter. 24.70% of the stock is currently owned by institutional investors and hedge funds.

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.