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Distribution Dates and Amounts Announced for Certain BlackRock Closed-End Funds
Business Wire (Mon, 1-Apr 4:30 PM ET)
Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions
Business Wire (Thu, 28-Mar 4:30 PM ET)
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 23, 2024, HYT stock price climbed to $9.65 with 69,297 million shares trading.
HYT has a beta of 0.72, meaning it tends to be less sensitive to market movements. HYT has a correlation of 0.43 to the broad based SPY ETF.
HYT has a market cap of $1.38 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 stock has underperformed the market in the last year with a return of +21.2%, while SPY returned +23.6%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in HYT shares. However, HYT has outperformed the market in the last 3 month and 2 week periods, returning +4.6% and -0.2%, while SPY returned +4.4% and -3.0%, respectively. This indicates HYT has been having a stronger performance recently.
HYT support price is $9.52 and resistance is $9.67 (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.