BlackRock Corporate High Yield Fund (NYSE:HYT) Portfolio Manager Acquires $868,000.00 in Stock

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

BlackRock Corporate High Yield Fund Price Performance

NYSE HYT opened at $8.88 on Friday. The business’s 50 day moving average price is $9.01 and its 200-day moving average price is $9.34. BlackRock Corporate High Yield Fund, Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $10.02.

BlackRock Corporate High Yield Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a dividend of $0.0779 per share. The ex-dividend date is Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 10.5%.

Hedge Funds Weigh In On BlackRock Corporate High Yield Fund

Several hedge funds have recently added to or reduced their stakes in HYT. Ameritas Advisory Services LLC bought a new position in shares of BlackRock Corporate High Yield Fund in the second quarter worth about $75,000. Penserra Capital Management LLC bought a new position in BlackRock Corporate High Yield Fund in the 3rd quarter worth about $6,555,000. Brookstone Capital Management grew its stake in BlackRock Corporate High Yield Fund by 9.1% in the 2nd quarter. Brookstone Capital Management now owns 20,669 shares of the investment management company’s stock worth $202,000 after acquiring an additional 1,716 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in BlackRock Corporate High Yield Fund by 30.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 108,653 shares of the investment management company’s stock worth $1,059,000 after acquiring an additional 25,046 shares in the last quarter. Finally, McGowan Group Asset Management Inc. increased its position in shares of BlackRock Corporate High Yield Fund by 13.2% during the second quarter. McGowan Group Asset Management Inc. now owns 3,773,668 shares of the investment management company’s stock worth $36,793,000 after acquiring an additional 440,349 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.