Short Interest in BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT) Grows By 68.0%

BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 6,725,166 shares, a growth of 68.0% from the January 15th total of 4,003,873 shares. Based on an average daily volume of 1,454,968 shares, the days-to-cover ratio is presently 4.6 days. Based on an average daily volume of 1,454,968 shares, the days-to-cover ratio is presently 4.6 days.

BlackRock Corporate High Yield Fund Price Performance

Shares of NYSE HYT opened at $8.86 on Friday. The company’s 50-day moving average price is $8.96 and its 200 day moving average price is $9.32. BlackRock Corporate High Yield Fund has a 52 week low of $7.84 and a 52 week high of $9.91.

BlackRock Corporate High Yield Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a dividend of $0.0779 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date of this dividend is Friday, March 13th.

Insider Activity at BlackRock Corporate High Yield Fund

In related news, Portfolio Manager David Delbos acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were purchased at an average price of $8.68 per share, with a total value of $868,000.00. Following the completion of the acquisition, the portfolio manager owned 205,511 shares in the company, valued at approximately $1,783,835.48. This represents a 94.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On BlackRock Corporate High Yield Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC grew its stake in BlackRock Corporate High Yield Fund by 8.4% in the 2nd quarter. International Assets Investment Management LLC now owns 137,527 shares of the investment management company’s stock worth $1,341,000 after acquiring an additional 10,650 shares during the period. Brookstone Capital Management grew its position in shares of BlackRock Corporate High Yield Fund by 9.1% in the second quarter. Brookstone Capital Management now owns 20,669 shares of the investment management company’s stock valued at $202,000 after purchasing an additional 1,716 shares during the period. World Investment Advisors grew its position in shares of BlackRock Corporate High Yield Fund by 214.9% in the second quarter. World Investment Advisors now owns 62,975 shares of the investment management company’s stock valued at $614,000 after purchasing an additional 42,975 shares during the period. Allworth Financial LP increased its stake in BlackRock Corporate High Yield Fund by 10,460.0% in the second quarter. Allworth Financial LP now owns 5,280 shares of the investment management company’s stock valued at $51,000 after purchasing an additional 5,230 shares during the last quarter. Finally, Samalin Investment Counsel LLC lifted its position in BlackRock Corporate High Yield Fund by 9.2% during the second quarter. Samalin Investment Counsel LLC now owns 40,890 shares of the investment management company’s stock worth $399,000 after buying an additional 3,430 shares during the period.

BlackRock Corporate High Yield Fund Company Profile

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.