BlackRock MuniYield Fund (NYSE:MYD) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

BlackRock MuniYield Fund, Inc. (NYSE:MYD) shares crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $11.38 and traded as low as $11.00. BlackRock MuniYield Fund shares last traded at $11.03, with a volume of 216,695 shares.

BlackRock MuniYield Fund Price Performance

The company’s fifty day moving average is $11.38 and its 200 day moving average is $11.01.

BlackRock MuniYield Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be paid a $0.0545 dividend. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date of this dividend is Tuesday, October 15th. This is an increase from BlackRock MuniYield Fund’s previous monthly dividend of $0.05.

Hedge Funds Weigh In On BlackRock MuniYield Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Bell Private Wealth Management LLC acquired a new position in shares of BlackRock MuniYield Fund during the second quarter worth $25,000. EverSource Wealth Advisors LLC grew its stake in BlackRock MuniYield Fund by 2,293.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,609 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 2,500 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in BlackRock MuniYield Fund during the 2nd quarter worth approximately $42,000. Pettinga Financial Advisors LLC acquired a new position in shares of BlackRock MuniYield Fund in the 2nd quarter valued at approximately $125,000. Finally, Private Advisor Group LLC purchased a new position in shares of BlackRock MuniYield Fund during the 3rd quarter valued at approximately $138,000. Hedge funds and other institutional investors own 33.77% of the company’s stock.

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.