Investing.com - Financial Markets Worldwide

Saba Capital Management sells $250,780 in BlackRock MuniYield Pennsylvania Fund stock

Published 14/02/2025, 01:42
Saba Capital Management sells $250,780 in BlackRock MuniYield Pennsylvania Fund stock
MPA
-0.37%

In a recent transaction reported to the Securities and Exchange Commission, Saba Capital Management, L.P., a prominent investment management firm, sold a significant portion of its stake in BlackRock (NYSE:BLK) MuniYield Pennsylvania Quality Fund (NYSE:MPA). The transaction, which took place on February 12, involved the sale of 21,807 shares at a price of $11.50 per share, amounting to a total of $250,780. According to InvestingPro data, MPA currently offers an attractive 6.93% dividend yield and has maintained dividend payments for 33 consecutive years.

Following this sale, Saba Capital Management continues to hold 2,057,746 shares indirectly. The transaction was signed off by Zachary Gindes on behalf of Saba Capital Management and Boaz Weinstein, both of whom are recognized as ten percent owners. The fund, with a market capitalization of $148.92 million, has demonstrated relatively low price volatility with a beta of 0.5.

This move is part of the regular portfolio adjustments by Saba Capital Management, which is known for its strategic investments in various funds and securities. Investors and market watchers will be keen to observe any further adjustments in the holdings of this influential fund manager. For deeper insights into MPA's financial health and additional investment tips, consider exploring InvestingPro, which offers 5 more exclusive tips for this security.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.