BlackRock MuniYield Fund, Inc. (NYSE:MYD) Sees Large Growth in Short Interest

BlackRock MuniYield Fund, Inc. (NYSE:MYD) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 26,800 shares, an increase of 624.3% from the August 15th total of 3,700 shares. Based on an average trading volume of 0 shares, the days-to-cover ratio is presently ∞ days.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MYD. Goldman Sachs Group Inc. purchased a new position in BlackRock MuniYield Fund in the 1st quarter worth approximately $153,000. Integrated Capital Management Inc. purchased a new position in shares of BlackRock MuniYield Fund during the 2nd quarter valued at approximately $164,000. Transcend Wealth Collective LLC purchased a new position in shares of BlackRock MuniYield Fund during the 1st quarter valued at approximately $203,000. PNC Financial Services Group Inc. boosted its stake in shares of BlackRock MuniYield Fund by 6.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 14,914 shares of the financial services provider’s stock valued at $226,000 after buying an additional 948 shares during the last quarter. Finally, Cohen & Steers Inc. boosted its stake in shares of BlackRock MuniYield Fund by 15.8% during the 1st quarter. Cohen & Steers Inc. now owns 17,927 shares of the financial services provider’s stock valued at $257,000 after buying an additional 2,445 shares during the last quarter. Hedge funds and other institutional investors own 13.07% of the company’s stock.

NYSE MYD opened at $15.31 on Wednesday. BlackRock MuniYield Fund has a fifty-two week low of $13.12 and a fifty-two week high of $15.60. The business has a 50 day moving average price of $15.32 and a two-hundred day moving average price of $14.94.

The business also recently declared a monthly dividend, which will be paid on Friday, October 1st. Shareholders of record on Wednesday, September 15th will be issued a $0.056 dividend. This represents a $0.67 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Tuesday, September 14th.

About BlackRock MuniYield Fund

BlackRock MuniYield Fund, Inc is a non-diversified, closed-end management investment fund. Its investment objective is to provide shareholders with as high a level of current income exempt from federal income taxes as is consistent with its investment policies and prudent investment management by investing primarily in a portfolio of long-term municipal bonds.

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