Short Interest in BlackRock MuniYield Fund, Inc. (NYSE:MYD) Declines By 47.3%

BlackRock MuniYield Fund, Inc. (NYSE:MYD) saw a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 291,400 shares, a decrease of 47.3% from the February 29th total of 552,700 shares. Based on an average daily trading volume, of 244,300 shares, the days-to-cover ratio is presently 1.2 days.

BlackRock MuniYield Fund Trading Up 0.5 %

NYSE MYD traded up $0.05 during trading hours on Thursday, reaching $11.06. The company had a trading volume of 159,102 shares, compared to its average volume of 243,392. The stock has a 50-day moving average of $10.93 and a 200 day moving average of $10.28. BlackRock MuniYield Fund has a 1-year low of $8.76 and a 1-year high of $11.30.

BlackRock MuniYield Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be paid a dividend of $0.0525 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.63 dividend on an annualized basis and a yield of 5.70%.

Hedge Funds Weigh In On BlackRock MuniYield Fund

Several hedge funds have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC increased its position in shares of BlackRock MuniYield Fund by 143.5% in the third quarter. Wolverine Asset Management LLC now owns 3,604 shares of the financial services provider’s stock valued at $33,000 after buying an additional 2,124 shares in the last quarter. Tanglewood Legacy Advisors LLC acquired a new stake in shares of BlackRock MuniYield Fund during the third quarter worth $37,000. Captrust Financial Advisors acquired a new stake in shares of BlackRock MuniYield Fund in the 2nd quarter worth about $41,000. Principal Securities Inc. bought a new position in BlackRock MuniYield Fund in the 4th quarter valued at about $69,000. Finally, JPMorgan Chase & Co. bought a new position in shares of BlackRock MuniYield Fund during the 1st quarter valued at about $84,000. 33.77% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock MuniYield Fund Company Profile

BlackRock MuniYield Fund, Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in fixed income markets. The fund primarily in long-term investment-grade municipal bonds with a maturity of more than ten years. It is exempt from federal income taxes.