In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Blackrock Muniyield Investment Fund (NYSE:MYF) reported that Morgan Stanley has picked up 801,302 of common stock as of 2017-02-13.
The acquisition brings the aggregate amount owned by Morgan Stanley Funds to a total of 801,302 representing a 5.8% stake in the company.
For those not familiar with the company, BlackRock MuniYield Investment Fund (the Fund) is a non-diversified, closed-end management investment company. The Fund’s investment objective is to provide shareholders with as high a level of current income exempt from federal income taxes as is consistent with its investment policies and prudent investment management. The Fund seeks to achieve its investment objective by investing at least 80% of its assets in municipal obligations exempt from federal income taxes (except that the interest may be subject to the federal alternative minimum tax). Under normal market conditions, the Fund primarily invests in municipal bonds that are investment grade quality at the time of investment. The Fund may invest up to 20% of its total assets in securities rated below investment grade or deemed equivalent at the time of purchase. The Fund may invest directly in such securities or synthetically through the use of derivatives. BlackRock Advisors, LLC is the investment advisor of the Fund.
A glance at Blackrock Muniyield Investment Fund (NYSE:MYF)’s key stats reveals a current market capitalization of 209.72 million based on 13.63 million shares outstanding and a price at last close of $15.36 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-10-16, Castellano picked up 1,000 at a purchase price of $15.18. This brings their total holding to 1,000 as of the date of the filing.
On the sell side, the most recent transaction saw Gabbay unload 100 shares at a sale price of $15.60. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Blackrock Muniyield Investment Fund (NYSE:MYF) as things move forward to see if its progress aligns with these transactions.
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