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Saba Capital Management, L.P. and Boaz Weinstein, both significant shareholders in BlackRock (NYSE:BLK) Muniyield Pennsylvania Quality Fund (NYSE:MPA), recently reported selling shares of the fund. The $141 million market cap fund, known for its impressive 7.3% dividend yield and 33-year history of consistent dividend payments, saw these transactions take place over two days. InvestingPro data shows the fund maintains relatively low volatility with a beta of 0.61.
On May 27, 18,362 shares were sold at a price of $10.84 per share. This was followed by a sale of 1,059 shares on May 28, priced at $10.83 each. The total value of these transactions amounted to $210,513. The current trading price of $10.87 sits just 15% above its 52-week low of $10.26.
Following these sales, the remaining shares held by the reporting owners totaled 1,332,524. Both transactions were executed indirectly, as noted in the SEC filing. For deeper insights into MPA’s financial health and additional ProTips, including its dividend sustainability metrics, visit InvestingPro.
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