Merit Financial Group LLC Sells 27,246 Shares of BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT)

Merit Financial Group LLC trimmed its holdings in BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT) by 56.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,870 shares of the investment management company’s stock after selling 27,246 shares during the period. Merit Financial Group LLC’s holdings in BlackRock Corporate High Yield Fund were worth $197,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Kovack Advisors Inc. boosted its position in BlackRock Corporate High Yield Fund by 8.4% during the fourth quarter. Kovack Advisors Inc. now owns 37,510 shares of the investment management company’s stock worth $354,000 after purchasing an additional 2,900 shares during the period. Western Wealth Management LLC boosted its holdings in shares of BlackRock Corporate High Yield Fund by 76.3% during the 4th quarter. Western Wealth Management LLC now owns 18,948 shares of the investment management company’s stock worth $179,000 after buying an additional 8,200 shares during the period. International Assets Investment Management LLC acquired a new position in BlackRock Corporate High Yield Fund in the 4th quarter valued at about $624,000. Stratos Wealth Partners LTD. raised its holdings in BlackRock Corporate High Yield Fund by 26.6% in the 4th quarter. Stratos Wealth Partners LTD. now owns 14,245 shares of the investment management company’s stock valued at $134,000 after acquiring an additional 2,996 shares during the period. Finally, Sowell Financial Services LLC acquired a new stake in BlackRock Corporate High Yield Fund during the fourth quarter worth approximately $753,000.

BlackRock Corporate High Yield Fund Stock Performance

Shares of NYSE:HYT opened at $9.92 on Friday. BlackRock Corporate High Yield Fund, Inc. has a 12-month low of $8.18 and a 12-month high of $9.94. The business has a 50 day moving average of $9.71 and a 200-day moving average of $9.37.

BlackRock Corporate High Yield Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a $0.0779 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.93 annualized dividend and a yield of 9.42%.

BlackRock Corporate High Yield Fund Profile

BlackRock Corporate High Yield Fund, Inc is a close ended fixed income mutual fund launched by BlackRock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in fixed income markets across the globe. The fund invests in bonds of companies operating across diversified sectors. It primarily invests in bonds rated Ba or lower by Moody's Investors Service, Inc, or BB or lower by Standard & Poor's Corporation.