HYT Stock Summary and Trading Ideas (Blackrock Corporate High Yield | NYSE:HYT)

BlackRock Corporate High Yield Fund, Inc.’s (HYT) (the “Trust”) primary investment objective is to provide shareholders with current income. The Trust’s secondary investment objective is to provide shareholders with capital appreciation. The Trust seeks to achieve its objectives by investing, under normal market conditions, at least 80% of its assets in domestic and foreign high yield securities, including high yield bonds (commonly referred to as “junk” bonds), corporate loans, convertible debt securities and preferred securities which are below investment grade quality. The Trust may invest directly in such securities or synthetically through the use of derivatives.

Blackrock Corporate High Yield trades on the NYSE stock market under the symbol HYT.

As of April 18, 2024, HYT stock price was flat at $9.44 with 133,288 million shares trading.

HYT has a beta of 0.79, meaning it tends to be less sensitive to market movements. HYT has a correlation of 0.45 to the broad based SPY ETF.

HYT has a market cap of $1.35 billion. This is considered a Small Cap stock.

In the last 3 years, HYT stock traded as high as $12.69 and as low as $8.13.

HYT has underperformed the market in the last year with a return of +18.0%, while the SPY ETF gained +22.3%. In the last 3 month period, HYT fell short of the market, returning +1.9%, while SPY returned +6.1%. However, in the most recent 2 weeks HYT has outperformed the stock market by returning -2.6%, while SPY returned -3.8%.

HYT support price is $9.37 and resistance is $9.51 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that HYT stock will trade within this expected range on the day.