BlackRock MuniYield Fund (NYSE:MYD) Hits New 12-Month High After Dividend Announcement

BlackRock MuniYield Fund, Inc. (NYSE:MYD) reached a new 52-week high during trading on Tuesday after the company announced a dividend. The stock traded as high as $11.30 and last traded at $11.26, with a volume of 97247 shares traded. The stock had previously closed at $11.19.

The newly announced dividend which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a dividend of $0.0525 per share. This represents a $0.63 annualized dividend and a yield of 5.59%. The ex-dividend date is Monday, September 16th.

BlackRock MuniYield Fund Price Performance

The stock has a fifty day moving average price of $11.02 and a 200 day moving average price of $10.91.

Hedge Funds Weigh In On BlackRock MuniYield Fund

Large investors have recently bought and sold shares of the business. Principal Securities Inc. bought a new position in shares of BlackRock MuniYield Fund in the 4th quarter worth $69,000. Fiera Capital Corp raised its position in shares of BlackRock MuniYield Fund by 13.5% in the 4th quarter. Fiera Capital Corp now owns 594,322 shares of the financial services provider’s stock worth $6,407,000 after acquiring an additional 70,572 shares in the last quarter. Robinson Capital Management LLC raised its position in shares of BlackRock MuniYield Fund by 107.1% in the 4th quarter. Robinson Capital Management LLC now owns 458,441 shares of the financial services provider’s stock worth $4,947,000 after acquiring an additional 237,121 shares in the last quarter. City of London Investment Management Co. Ltd. grew its stake in BlackRock MuniYield Fund by 64.1% during the 4th quarter. City of London Investment Management Co. Ltd. now owns 115,618 shares of the financial services provider’s stock worth $1,246,000 after buying an additional 45,144 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new position in BlackRock MuniYield Fund during the 4th quarter worth $141,000. Hedge funds and other institutional investors own 33.77% of the company’s stock.

About BlackRock MuniYield Fund

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.