Short Interest in BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT) Expands By 79.1%

BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 434,534 shares, an increase of 79.1% from the February 26th total of 242,681 shares. Based on an average daily volume of 1,069,486 shares, the days-to-cover ratio is presently 0.4 days.

BlackRock Corporate High Yield Fund Stock Down 1.0%

Shares of NYSE HYT opened at $8.27 on Friday. BlackRock Corporate High Yield Fund has a 1-year low of $7.84 and a 1-year high of $9.88. The company has a 50-day moving average of $8.76 and a two-hundred day moving average of $9.11.

BlackRock Corporate High Yield Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.0779 dividend. This represents a c) annualized dividend and a dividend yield of 11.3%. The ex-dividend date of this dividend is Monday, June 15th.

Insider Activity

In other BlackRock Corporate High Yield Fund news, Portfolio Manager David Delbos bought 100,000 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were bought at an average price of $8.68 per share, for a total transaction of $868,000.00. Following the completion of the acquisition, the portfolio manager owned 205,511 shares of the company’s stock, valued at approximately $1,783,835.48. This trade represents a 94.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On BlackRock Corporate High Yield Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. McGowan Group Asset Management Inc. boosted its holdings in BlackRock Corporate High Yield Fund by 0.5% in the fourth quarter. McGowan Group Asset Management Inc. now owns 3,797,228 shares of the investment management company’s stock valued at $33,795,000 after acquiring an additional 17,062 shares during the last quarter. Invesco Ltd. boosted its stake in shares of BlackRock Corporate High Yield Fund by 12.5% in the 4th quarter. Invesco Ltd. now owns 1,632,966 shares of the investment management company’s stock valued at $14,533,000 after purchasing an additional 181,883 shares during the last quarter. LPL Financial LLC boosted its stake in shares of BlackRock Corporate High Yield Fund by 12.9% in the 4th quarter. LPL Financial LLC now owns 1,363,639 shares of the investment management company’s stock valued at $12,136,000 after purchasing an additional 156,073 shares during the last quarter. MML Investors Services LLC grew its position in shares of BlackRock Corporate High Yield Fund by 0.9% during the 2nd quarter. MML Investors Services LLC now owns 992,083 shares of the investment management company’s stock worth $9,673,000 after buying an additional 8,754 shares during the period. Finally, Guggenheim Capital LLC grew its position in shares of BlackRock Corporate High Yield Fund by 15.5% during the 4th quarter. Guggenheim Capital LLC now owns 909,705 shares of the investment management company’s stock worth $8,096,000 after buying an additional 121,903 shares during the period.

About BlackRock Corporate High Yield Fund

BlackRock Corporate High Yield Fund (NYSE: HYT) is a diversified, closed-end management investment company designed to offer investors exposure to the credit market’s higher-yielding segment. The fund primarily seeks to generate high current income by investing in below-investment-grade corporate debt securities across a broad range of industries. It may also allocate a portion of its assets to investment-grade bonds and cash equivalents, allowing for flexible portfolio positioning in response to market conditions.

HYT’s investment strategy emphasizes bottom-up credit research, focusing on issuers with strong cash flow potential and sound balance sheets relative to their high-yield peers.