BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA) Short Interest Up 92.9% in June

BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 16,670 shares, a growth of 92.9% from the May 31st total of 8,642 shares. Based on an average daily volume of 30,444 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.1% of the company’s shares are sold short.

BlackRock MuniYield Pennsylvania Quality Fund Price Performance

NYSE MPA traded up $0.01 on Wednesday, hitting $11.38. 10,058 shares of the company were exchanged, compared to its average volume of 34,195. The company’s 50 day moving average price is $11.29 and its 200-day moving average price is $11.29. BlackRock MuniYield Pennsylvania Quality Fund has a twelve month low of $10.50 and a twelve month high of $11.87.

BlackRock MuniYield Pennsylvania Quality Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a $0.0477 dividend. This represents a c) annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Investors Weigh In On BlackRock MuniYield Pennsylvania Quality Fund

Several hedge funds have recently made changes to their positions in MPA. Elyxium Wealth LLC acquired a new position in BlackRock MuniYield Pennsylvania Quality Fund in the 4th quarter worth approximately $27,000. Kestra Advisory Services LLC purchased a new position in shares of BlackRock MuniYield Pennsylvania Quality Fund during the fourth quarter valued at $39,000. Sovereign Financial Group Inc. acquired a new position in BlackRock MuniYield Pennsylvania Quality Fund during the first quarter valued at $110,000. Bank of Montreal Can purchased a new stake in BlackRock MuniYield Pennsylvania Quality Fund in the 4th quarter worth about $137,000. Finally, Royal Bank of Canada lifted its stake in BlackRock MuniYield Pennsylvania Quality Fund by 44.2% in the 4th quarter. Royal Bank of Canada now owns 16,303 shares of the investment management company’s stock worth $181,000 after acquiring an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 24.70% of the company’s stock.

BlackRock MuniYield Pennsylvania Quality Fund Company Profile

BlackRock MuniYield Pennsylvania Quality Fund (NYSE: MPA) is a non-diversified, closed-end management investment company whose primary objective is to provide shareholders with current income exempt from regular U.S. federal and Pennsylvania personal income taxes, and to a lesser extent, capital appreciation. The fund pursues its objective by investing in municipal securities that are issued by or for the benefit of the Commonwealth of Pennsylvania and its political subdivisions.

In managing its portfolio, the fund typically allocates at least 80% of its assets to investment-grade municipal bonds issued within Pennsylvania.