BlackRock Corporate High Yield Fund (NYSE:HYT) Stock Crosses Below 200 Day Moving Average – What’s Next?

Shares of BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $9.55 and traded as low as $9.04. BlackRock Corporate High Yield Fund shares last traded at $9.05, with a volume of 1,049,825 shares traded.

BlackRock Corporate High Yield Fund Stock Up 0.4%

The company has a fifty day moving average of $9.38 and a two-hundred day moving average of $9.55.

BlackRock Corporate High Yield Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be issued a $0.0779 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date is Monday, December 22nd.

Hedge Funds Weigh In On BlackRock Corporate High Yield Fund

A number of hedge funds have recently added to or reduced their stakes in HYT. Invesco Ltd. lifted its position in shares of BlackRock Corporate High Yield Fund by 5.9% in the 1st quarter. Invesco Ltd. now owns 1,310,147 shares of the investment management company’s stock worth $12,551,000 after buying an additional 72,442 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in BlackRock Corporate High Yield Fund by 17.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 107,786 shares of the investment management company’s stock worth $1,033,000 after acquiring an additional 16,177 shares during the period. Samalin Investment Counsel LLC lifted its holdings in BlackRock Corporate High Yield Fund by 14.0% in the first quarter. Samalin Investment Counsel LLC now owns 37,460 shares of the investment management company’s stock worth $359,000 after acquiring an additional 4,611 shares during the last quarter. Smith Asset Management Co. LLC acquired a new position in BlackRock Corporate High Yield Fund in the first quarter valued at approximately $620,000. Finally, Advisors Capital Management LLC boosted its stake in BlackRock Corporate High Yield Fund by 47.0% in the first quarter. Advisors Capital Management LLC now owns 31,900 shares of the investment management company’s stock valued at $306,000 after acquiring an additional 10,200 shares during the period.

About BlackRock Corporate High Yield Fund

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.