Blackrock Corporate High Yield (NYSE:HYT) has been the object of insider buying activity recently. Director Catherine A. Lynch disclosed the purchase of 600 shares of HYT stock. The shares were bought on June 12th for an average price of $11.14. The Director now owns $6,684 of the stock according to the SEC filing. Cynthia Egan, Director reported the purchase of 4,500 shares. The shares were purchased at an average price of $11.24. Egan now owns $152,302 of the stock per the Form 4 SEC filing.
Cynthia Egan, Director disclosed the purchase of 9,050 shares of (HYT). The shares were bought on January 10th for an average price of $11.06. The Director now owns $100,093 of the stock according to the SEC filing.
BlackRock Corporate High Yield Fund VI, Inc. is a diversified closed-end management investment company. The Fund seeks to provide current income by investing primarily in a diversified portfolio of fixed-income securities..
Here are some other firms who have updated their holdings. Morgan Stanley expanded its ownership by buying 9,999 shares an increase of 2.4% as of 03/31/2017. Morgan Stanley now holds 426,193 shares worth $4,654,000. The total value of its holdings increased 3.3%. As of the end of the quarter Shaker Financial Services, LLC had bought a total of 57,840 shares growing its position 160.7%. The value of the investment in HYT went from $390,000 to $1,025,000 increasing 162.8% quarter over quarter.
As of quarter end Goldman Sachs Group Inc had acquired 1,994 shares growing its holdings by 16.2%. The value of the investment in (HYT) increased from $133,000 to $156,000 a change of $23,000 quarter to quarter. As of quarter end Hightower Advisors, LLC had sold 320,966 shares trimming its stake by 30.5%. The value of the investment in Blackrock Corporate High Yield decreased from $11,396,000 to $7,980,000 a change of 30.0% since the last quarter.
On December 8 analysts at Berenberg started covering HYT giving it an initial rating of “Buy” and setting a price target of $60.00.
The company is now down from yesterday’s close of $11.15. Shares are trading at $11.14 slightly below the 50 day moving average which is $11.15 and slightly over the 200 day moving average of $10.96. The 50 day moving average was down $-0.02 or -0.2035% and the 200 day average moved up $0.18.