PNC Financial Services Group Inc. Decreases Stake in BlackRock MuniYield Fund, Inc. (NYSE:MYD)

PNC Financial Services Group Inc. cut its holdings in shares of BlackRock MuniYield Fund, Inc. (NYSE:MYD) by 13.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,022 shares of the financial services provider’s stock after selling 1,500 shares during the quarter. PNC Financial Services Group Inc.’s holdings in BlackRock MuniYield Fund were worth $104,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of MYD. Raymond James Financial Inc. bought a new stake in shares of BlackRock MuniYield Fund during the 4th quarter valued at $1,250,000. Wolverine Asset Management LLC increased its position in shares of BlackRock MuniYield Fund by 740.0% during the fourth quarter. Wolverine Asset Management LLC now owns 11,760 shares of the financial services provider’s stock valued at $122,000 after buying an additional 10,360 shares during the period. Tanglewood Legacy Advisors LLC bought a new stake in shares of BlackRock MuniYield Fund during the fourth quarter valued at about $47,000. Van ECK Associates Corp lifted its holdings in shares of BlackRock MuniYield Fund by 6.5% in the fourth quarter. Van ECK Associates Corp now owns 347,642 shares of the financial services provider’s stock worth $3,612,000 after buying an additional 21,337 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC bought a new position in shares of BlackRock MuniYield Fund in the fourth quarter valued at approximately $105,000. 33.77% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock MuniYield Fund Price Performance

Shares of NYSE:MYD opened at $10.60 on Wednesday. BlackRock MuniYield Fund, Inc. has a 12 month low of $10.27 and a 12 month high of $11.74. The company has a 50 day moving average of $10.70 and a 200 day moving average of $10.99.

BlackRock MuniYield Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.0545 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.65 annualized dividend and a dividend yield of 6.17%.

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.