In recent transactions reported to the Securities and Exchange Commission, Stayce D. Harris, a director at BlackRock (NYSE:BLK) MuniYield Fund Inc. (NYSE:MYD), acquired shares of the company. On October 29, 2024, Harris purchased 10 shares at an average price of $11.0159 per share. The total value of this purchase amounts to approximately $110.
This transaction increases Harris's direct ownership in the company to 10 shares. The acquisition was part of a routine transaction and was not associated with any equity swaps.
InvestingPro Insights
While Stayce D. Harris's recent purchase of BlackRock MuniYield Fund Inc. (NYSE:MYD) shares was relatively small, it's worth considering the broader context of the company's financial health and market performance. According to InvestingPro data, MYD has a market capitalization of $503.98 million and a P/E ratio of 32.48, indicating investors are willing to pay a premium for the stock's earnings.
One of the most notable InvestingPro Tips for MYD is that the company has maintained dividend payments for 33 consecutive years, which may be particularly attractive to income-focused investors. This consistency aligns with the fund's current dividend yield of 5.93%, as of the latest data available.
Additionally, MYD has been profitable over the last twelve months, with a gross profit of $37.44 million and a 100% gross profit margin. This profitability, combined with the fund's dividend history, could explain why directors like Harris might be interested in increasing their holdings, even if modestly.
It's worth noting that MYD's stock has shown strong performance over the past year, with a 1-year price total return of 31.02%. This outperformance might suggest investor confidence in the fund's management and strategy.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights. There are 6 more InvestingPro Tips available for MYD, which could provide further context for the company's financial position and market outlook.
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