Kovack Advisors Inc. Acquires 7,700 Shares of BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT)

Kovack Advisors Inc. boosted its holdings in shares of BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT) by 20.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,210 shares of the investment management company’s stock after acquiring an additional 7,700 shares during the period. Kovack Advisors Inc.’s holdings in BlackRock Corporate High Yield Fund were worth $443,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HYT. Penserra Capital Management LLC bought a new stake in shares of BlackRock Corporate High Yield Fund in the 3rd quarter worth approximately $8,715,000. Sowell Financial Services LLC bought a new stake in BlackRock Corporate High Yield Fund in the fourth quarter worth $753,000. Lake Street Private Wealth LLC grew its stake in shares of BlackRock Corporate High Yield Fund by 22.9% in the first quarter. Lake Street Private Wealth LLC now owns 401,550 shares of the investment management company’s stock worth $3,931,000 after acquiring an additional 74,700 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of BlackRock Corporate High Yield Fund by 321.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 93,741 shares of the investment management company’s stock valued at $884,000 after acquiring an additional 71,502 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of BlackRock Corporate High Yield Fund in the 4th quarter worth about $624,000.

BlackRock Corporate High Yield Fund Stock Performance

BlackRock Corporate High Yield Fund stock traded down $0.02 during mid-day trading on Thursday, reaching $9.68. The stock had a trading volume of 374,124 shares, compared to its average volume of 401,689. BlackRock Corporate High Yield Fund, Inc. has a one year low of $8.18 and a one year high of $9.96. The company has a 50-day moving average price of $9.73 and a two-hundred day moving average price of $9.65.

BlackRock Corporate High Yield Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be given a dividend of $0.0779 per share. This represents a $0.93 annualized dividend and a dividend yield of 9.66%. The ex-dividend date is Monday, July 15th.

About BlackRock Corporate High Yield Fund

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.