BlackRock Corporate High Yield Fund (NYSE:HYT) Share Price Crosses Below Fifty Day Moving Average – Here’s What Happened

BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT)’s share price crossed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $7.89 and traded as low as $7.80. BlackRock Corporate High Yield Fund shares last traded at $7.8150, with a volume of 812,647 shares changing hands.

BlackRock Corporate High Yield Fund Stock Performance

The company’s 50 day moving average price is $7.89 and its 200-day moving average price is $8.40.

BlackRock Corporate High Yield Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be given a dividend of $0.0779 per share. The ex-dividend date is Friday, December 11th. This represents a $0.93 annualized dividend and a dividend yield of 12.0%.

Hedge Funds Weigh In On BlackRock Corporate High Yield Fund

Several institutional investors have recently added to or reduced their stakes in HYT. SeaCrest Wealth Management LLC increased its stake in shares of BlackRock Corporate High Yield Fund by 7.3% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 20,524 shares of the investment management company’s stock valued at $161,000 after acquiring an additional 1,391 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its stake in BlackRock Corporate High Yield Fund by 8.3% during the second quarter. Wealthcare Advisory Partners LLC now owns 18,275 shares of the investment management company’s stock worth $156,000 after acquiring an additional 1,402 shares in the last quarter. Purus Wealth Management LLC grew its holdings in BlackRock Corporate High Yield Fund by 5.2% in the third quarter. Purus Wealth Management LLC now owns 33,954 shares of the investment management company’s stock worth $266,000 after purchasing an additional 1,671 shares during the period. Ramiah Investment Group grew its holdings in BlackRock Corporate High Yield Fund by 4.1% in the first quarter. Ramiah Investment Group now owns 50,495 shares of the investment management company’s stock worth $430,000 after purchasing an additional 1,999 shares during the period. Finally, Capital Investment Advisors LLC grew its holdings in BlackRock Corporate High Yield Fund by 2.3% in the third quarter. Capital Investment Advisors LLC now owns 107,094 shares of the investment management company’s stock worth $840,000 after purchasing an additional 2,384 shares during the period.

BlackRock Corporate High Yield Fund Company Profile

BlackRock Corporate High Yield Fund, Inc. (NYSE: HYT) is a closed-end investment fund managed by BlackRock Advisors, LLC, a subsidiary of BlackRock, Inc. The fund seeks to provide shareholders with current income and, as a secondary objective, capital appreciation by investing primarily in below-investment-grade corporate debt securities, commonly known as high-yield or “junk” bonds. The fund’s portfolio may include bonds and other debt obligations issued by companies across a range of industries and geographic markets, with an emphasis on U.S. corporate credit and the flexibility to invest in securities issued by companies outside the United States.