Advisors Asset Management Inc. Cuts Stake in BlackRock MuniYield Fund, Inc. (NYSE:MYD)

Advisors Asset Management Inc. lowered its position in shares of BlackRock MuniYield Fund, Inc. (NYSE:MYD) by 64.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,193 shares of the financial services provider’s stock after selling 93,728 shares during the period. Advisors Asset Management Inc.’s holdings in BlackRock MuniYield Fund were worth $597,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Transcend Capital Advisors LLC boosted its position in BlackRock MuniYield Fund by 13.3% during the second quarter. Transcend Capital Advisors LLC now owns 17,000 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 2,000 shares in the last quarter. Blue Bell Private Wealth Management LLC bought a new stake in BlackRock MuniYield Fund during the second quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its position in BlackRock MuniYield Fund by 2,293.6% during the second 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 bought a new stake in BlackRock MuniYield Fund during the second quarter valued at about $42,000. Finally, Intellectus Partners LLC boosted its position in BlackRock MuniYield Fund by 10.1% during the third quarter. Intellectus Partners LLC now owns 76,000 shares of the financial services provider’s stock valued at $872,000 after purchasing an additional 7,000 shares in the last quarter. Hedge funds and other institutional investors own 33.77% of the company’s stock.

BlackRock MuniYield Fund Stock Up 1.6 %

Shares of MYD stock opened at $11.35 on Thursday. The stock’s 50-day moving average is $11.32 and its 200 day moving average is $11.08. BlackRock MuniYield Fund, Inc. has a 1-year low of $10.12 and a 1-year high of $11.74.

BlackRock MuniYield Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.0545 dividend. This represents a $0.65 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend is Friday, November 15th.

BlackRock MuniYield Fund Profile

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.