BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT) Sees Significant Decline in Short Interest

by · The Markets Daily

BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT – Get Free Report) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 224,200 shares, a decline of 64.5% from the March 15th total of 632,100 shares. Based on an average daily trading volume, of 755,000 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HYT. Larson Financial Group LLC grew its position in BlackRock Corporate High Yield Fund by 228.0% in the fourth quarter. Larson Financial Group LLC now owns 3,500 shares of the investment management company’s stock worth $34,000 after acquiring an additional 2,433 shares during the period. Jackson Hole Capital Partners LLC acquired a new stake in shares of BlackRock Corporate High Yield Fund in the 4th quarter valued at $99,000. Two Sigma Securities LLC acquired a new position in shares of BlackRock Corporate High Yield Fund during the fourth quarter worth $99,000. Gladstone Institutional Advisory LLC purchased a new position in BlackRock Corporate High Yield Fund in the fourth quarter valued at $100,000. Finally, Concourse Financial Group Securities Inc. raised its stake in BlackRock Corporate High Yield Fund by 31.9% in the fourth quarter. Concourse Financial Group Securities Inc. now owns 11,455 shares of the investment management company’s stock valued at $113,000 after buying an additional 2,773 shares in the last quarter.

BlackRock Corporate High Yield Fund Price Performance

Shares of HYT stock traded up $0.10 during trading hours on Tuesday, reaching $9.20. 1,031,839 shares of the stock were exchanged, compared to its average volume of 540,563. The company’s 50-day moving average price is $9.57 and its 200-day moving average price is $9.76. BlackRock Corporate High Yield Fund has a 12-month low of $7.84 and a 12-month high of $10.16.

BlackRock Corporate High Yield Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a $0.0779 dividend. This represents a $0.93 dividend on an annualized basis and a dividend yield of 10.17%. The ex-dividend date of this dividend is Tuesday, April 15th.

About BlackRock Corporate High Yield Fund

(Get Free Report)

BlackRock Corporate High Yield Fund, Inc is a close ended fixed income mutual fund launched by BlackRock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in fixed income markets across the globe. The fund invests in bonds of companies operating across diversified sectors. It primarily invests in bonds rated Ba or lower by Moody's Investors Service, Inc, or BB or lower by Standard & Poor's Corporation.

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