BlackRock Corporate High Yield Fund (NYSE:HYT) Portfolio Manager David Delbos Buys 100,000 Shares

BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT) Portfolio Manager David Delbos purchased 100,000 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was bought at an average cost of $8.68 per share, for a total transaction of $868,000.00. Following the completion of the purchase, the portfolio manager directly owned 205,511 shares of the company’s stock, valued at $1,783,835.48. The trade was a 94.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

BlackRock Corporate High Yield Fund Stock Performance

HYT traded down $0.03 during midday trading on Thursday, reaching $8.81. The company’s stock had a trading volume of 1,327,058 shares, compared to its average volume of 1,506,589. BlackRock Corporate High Yield Fund, Inc. has a twelve month low of $7.84 and a twelve month high of $10.02. The company has a fifty day simple moving average of $9.04 and a 200 day simple moving average of $9.35.

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 issued a dividend of $0.0779 per share. This represents a c) annualized dividend and a dividend yield of 10.6%. The ex-dividend date is Friday, March 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. acquired a new position in BlackRock Corporate High Yield Fund during the 3rd quarter worth about $28,000. TFC Financial Management Inc. purchased a new position in BlackRock Corporate High Yield Fund in the 3rd quarter worth $50,000. Allworth Financial LP lifted 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 worth $51,000 after acquiring an additional 5,230 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of BlackRock Corporate High Yield Fund in the 2nd quarter worth approximately $75,000. Finally, Larson Financial Group LLC lifted its stake in BlackRock Corporate High Yield Fund by 127.6% during the 3rd quarter. Larson Financial Group LLC now owns 7,966 shares of the investment management company’s stock valued at $76,000 after acquiring an additional 4,466 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.