Rivernorth Capital Management LLC Sells 293,756 Shares of BlackRock MuniYield Fund, Inc. (NYSE:MYD)

Rivernorth Capital Management LLC lowered its holdings in BlackRock MuniYield Fund, Inc. (NYSE:MYD) by 6.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,197,313 shares of the financial services provider’s stock after selling 293,756 shares during the period. BlackRock MuniYield Fund accounts for 2.3% of Rivernorth Capital Management LLC’s investment portfolio, making the stock its 9th biggest position. Rivernorth Capital Management LLC owned about 9.00% of BlackRock MuniYield Fund worth $47,975,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC acquired a new stake in shares of BlackRock MuniYield Fund during the 2nd quarter worth $25,000. EverSource Wealth Advisors LLC raised its holdings in shares of BlackRock MuniYield Fund by 2,293.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 2,500 shares during the period. Wolverine Asset Management LLC purchased a new position in shares of BlackRock MuniYield Fund in the 2nd quarter worth about $42,000. Pettinga Financial Advisors LLC purchased a new stake in shares of BlackRock MuniYield Fund during the 2nd quarter worth about $125,000. Finally, Private Advisor Group LLC acquired a new stake in BlackRock MuniYield Fund during the 3rd quarter worth approximately $138,000. 33.77% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock MuniYield Fund Stock Down 1.0 %

Shares of MYD stock opened at $11.16 on Friday. BlackRock MuniYield Fund, Inc. has a fifty-two week low of $10.35 and a fifty-two week high of $11.74. The firm’s 50 day moving average price is $11.28 and its two-hundred day moving average price is $11.13.

BlackRock MuniYield Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.0545 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.65 annualized dividend and a yield of 5.86%.

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.