Rivernorth Capital Management LLC Has $47.34 Million Stock Position in BlackRock Corporate High Yield Fund, Inc. $HYT

Rivernorth Capital Management LLC lowered its stake in BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT) by 6.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,529,831 shares of the investment management company’s stock after selling 369,771 shares during the period. BlackRock Corporate High Yield Fund makes up approximately 2.3% of Rivernorth Capital Management LLC’s investment portfolio, making the stock its 5th biggest position. Rivernorth Capital Management LLC’s holdings in BlackRock Corporate High Yield Fund were worth $47,335,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Compass Financial Management LLC purchased a new stake in BlackRock Corporate High Yield Fund during the second quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. purchased a new position in shares of BlackRock Corporate High Yield Fund in the 3rd quarter worth approximately $28,000. Kestra Advisory Services LLC purchased a new position in shares of BlackRock Corporate High Yield Fund in the 4th quarter worth approximately $33,000. Main Street Group LTD bought a new position in shares of BlackRock Corporate High Yield Fund during the 1st quarter valued at approximately $34,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of BlackRock Corporate High Yield Fund by 47.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,354 shares of the investment management company’s stock valued at $39,000 after purchasing an additional 1,399 shares during the last quarter.

BlackRock Corporate High Yield Fund Stock Performance

NYSE:HYT opened at $8.27 on Monday. The stock’s fifty day moving average is $8.41 and its 200 day moving average is $8.55. BlackRock Corporate High Yield Fund, Inc. has a fifty-two week low of $8.22 and a fifty-two week high of $9.61.

BlackRock Corporate High Yield Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.0779 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 11.3%.

BlackRock Corporate High Yield Fund 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.