In a recent transaction reported to the SEC, Harris Stayce D., a director at BlackRock (NYSE:BLK) Corporate High Yield Fund, Inc. (NYSE:HYT), acquired a small number of shares in the company. On October 29, 2024, Harris purchased 10 shares of common stock at a price of approximately $9.85 per share, totaling $98. This transaction was executed directly, and it marks the director's initial stake in the company, with 10 shares owned following the transaction.
InvestingPro Insights
While Harris Stayce D.'s recent purchase of 10 shares in BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT) may seem modest, it aligns with several key characteristics of the fund that investors should note. According to InvestingPro data, HYT boasts a substantial dividend yield of 9.49%, underscoring its appeal to income-focused investors. This high yield is supported by the fund's consistent dividend history, with InvestingPro Tips highlighting that HYT has maintained dividend payments for 22 consecutive years.
The fund's attractive valuation is evident in its P/E ratio of 8.74, which suggests it may be undervalued relative to its earnings potential. Additionally, HYT has demonstrated strong financial performance, with revenue growth of 20.88% over the last twelve months as of Q2 2024, and a 10.49% quarterly revenue growth in the same period.
For investors considering HYT, it's worth noting that the fund is currently trading near its 52-week high, with the price at 97.05% of its peak. This performance is reflected in the fund's impressive one-year price total return of 30.45%, significantly outpacing many other investment options.
These insights are just a glimpse of what InvestingPro offers. The platform provides 7 additional tips for HYT, offering a more comprehensive analysis for investors looking to delve deeper into the fund's prospects and risks.
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