Blackrock Muniyield Investment Fund: Understanding Its Symbol

The BlackRock MuniYield Investment Fund is a closed-end fund that seeks to provide shareholders with a high level of current income exempt from federal income taxes. The fund aims to achieve this objective by investing primarily in long-term municipal bonds with maturities of more than ten years. The fund's symbols are MYD, MQY, and MPA, which are used to identify the fund on stock exchanges. These symbols are followed by the exchange on which the fund is traded, such as the New York Stock Exchange.

BlackRock MuniYield Fund, Inc. (MYD)

The BlackRock MuniYield Fund, Inc. (MYD) is a municipal bond fund that aims to provide shareholders with a high level of current income exempt from federal income taxes, while also adhering to prudent investment management practices. The fund's objective is to invest primarily in long-term municipal bonds with maturities of more than ten years, focusing on those that are rated investment grade.

As of November 1, 2024, the fund's Net Asset Value (NAV) was $11.94, with a 52-week range of 10.66 - 12.43. The Distribution Rate as of the same date was 5.95%, while the Market Price stood at $11.00.

The fund's investment approach is to allocate at least 80% of its assets in municipal bonds that are exempt from federal income taxes, with the exception of the federal alternative minimum tax. Under typical market conditions, the fund commits to investing a minimum of 75% of its assets in municipal bonds that carry an investment-grade rating, and predominantly invests in long-term municipal bonds with maturities exceeding ten years at the time of investment.

The fund's portfolio managers are Kevin Maloney, Walter O'Connor, Michael Kalinoski, Kristi Manidis, and Phillip Soccio.

Risk Factors

It is important to note that past distributions are not indicative of future distributions. The fund's net asset value per share may decrease when distributions surpass total return performance. The character of income will be determined at the end of the fund's fiscal year.

Common shares of closed-end funds, such as MYD, are generally available for purchase and sale only at current market prices on a stock exchange. The fund's dividend yield, market price, and net asset value (NAV) are subject to fluctuation based on market conditions.

Recent News

The fund has recently announced a management fee waiver.

BlackRock MuniYield Quality Fund, Inc. (MQY)

BlackRock MuniYield Quality Fund Inc. (MQY)

The BlackRock MuniYield Quality Fund Inc. (MQY) is a closed-end fund that seeks to provide shareholders with a high level of current income exempt from federal and state income taxes. The fund aims to achieve this objective by investing primarily in long-term, investment-grade municipal obligations and bonds.

As of December 2023, MQY had a 52-week range of 9.82-12.53, with total net assets of $936.40 million and a net expense ratio of 2.85%.

MQY's investment approach is to invest at least 80% of its assets in municipal obligations and bonds that are exempt from federal income taxes. The fund may invest directly in such securities or synthetically through derivatives. Under normal market conditions, MQY invests primarily in long-term municipal obligations that are investment grade at the time of investment.

The fund may be suitable for investors seeking tax-exempt income and exposure to municipal obligations. However, it is important to note that MQY's performance and distributions may vary, and there is no assurance that the fund's investment objective will be achieved.

BlackRock MuniYield Pennsylvania Quality Fund (MPA)

The BlackRock MuniYield Pennsylvania Quality Fund (MPA) is another closed-end fund with a similar investment objective to MQY. MPA aims to provide shareholders with a high level of current income exempt from federal and Pennsylvania income taxes. As of October 2024, MPA had a distribution rate of 6.37% and a market price total return of 9.79% YTD.

BlackRock MuniYield Fund, Inc. (MYD)

The BlackRock MuniYield Fund, Inc. (MYD) is yet another closed-end fund with a similar investment objective, focusing on federal income tax exemptions. As of November 2024, MYD had a distribution rate of 5.95% and a market price total return of 10.67% YTD.

BlackRock MuniYield Pennsylvania Quality Fund (MPA)

The BlackRock MuniYield Pennsylvania Quality Fund (MPA) is a municipal bond fund that seeks to provide shareholders with a high level of current income exempt from federal and Pennsylvania income taxes. The fund aims to achieve this objective by investing primarily in long-term, investment-grade municipal obligations that are exempt from federal and Pennsylvania income taxes.

As of October 8, 2024, the fund's Net Asset Value (NAV) was $13.23, with a 52-week range of 11.54 to 13.37. The Distribution Rate as of the same date was 6.37%, and the Market Price was $12.43.

The fund's investment approach involves investing at least 80% of its assets in municipal obligations that are exempt from federal income taxes (except for the federal alternative minimum tax) and Pennsylvania income taxes. It typically invests in long-term municipal obligations that are investment-grade quality at the time of investment. The fund may invest directly in such securities or use derivatives to gain synthetic exposure.

It is important to note that past distributions are not indicative of future distributions, and the fund's investment objective may not always be achieved.

Key People

• Phillip Soccio, CFA: Director and Portfolio Manager for the Municipal Fixed Income business in BlackRock's Portfolio Management Group.
• Walter O'Connor, CFA: Managing Director, Co-Head, and Portfolio Manager for the Municipal Mutual Funds team within the Municipal Fixed Income business.
• Michael Kalinoski, CFA: Director and Portfolio Manager on the Municipal Mutual Fund Desk within the Municipal Fixed Income business.
• Kevin Maloney, CFA: Director, Co-Head, and Portfolio Manager within the Municipal Fixed Income business, and a member of the Municipal Management Committee.
• Kristi Manidis: Director and Portfolio Manager for the Municipal Fixed Income business, with previous experience in various roles at BlackRock.
• Christian Romaglino, CFA: Director and Portfolio Manager for the Municipal Fixed Income business, with prior experience at Brown Brothers Harriman.

Municipal bonds rated investment grade

Municipal bonds are debt obligations issued by governments to raise funds for public projects. Interest is usually paid semi-annually and maturities can vary from short-term to thirty years or more.

Municipal bonds are rated by agencies such as Moody's, Standard & Poor's and Fitch. These agencies assess the creditworthiness of the issuer and its ability to make timely interest payments and repay principal.

Moody's

Moody's uses a combination of letters and numbers to rate bonds. On the Moody's rating scale, issues rated Baa3 or above are generally considered investment grade, while those rated lower than Baa3 are considered below investment grade.

Standard & Poor's (S&P)

S&P uses letter grades with plus (+) and minus (-) suffixes. On the S&P rating scale, issues rated BBB- or above are considered investment grade, while those rated below BBB- are considered below investment grade.

Fitch

Fitch's rating scale is similar to S&P's. On the Fitch rating scale, issues rated BBB- or above are considered investment grade, while those rated below BBB- are considered below investment grade.

An investment grade rating signifies that a municipal or corporate bond presents a relatively low risk of default. Bonds with a rating of BBB- (on the Standard & Poor's and Fitch scale) or Baa3 (on Moody's scale) or better are considered "investment grade".

The BlackRock MuniYield Investment Fund seeks to achieve its investment objective by investing at least 80% of its assets in municipal bonds exempt from federal income taxes. The fund invests primarily in long-term municipal bonds with a maturity of more than ten years at the time of investment.

The BlackRock MuniYield Pennsylvania Quality Fund (MPA) invests at least 80% of its assets in municipal obligations exempt from federal and Pennsylvania income taxes. Under normal market conditions, the fund invests primarily in long-term municipal obligations that are investment grade quality.

The symbol for the BlackRock MuniYield Investment Fund is MYD, while the symbol for the BlackRock MuniYield Pennsylvania Quality Fund is MPA.

Municipal obligations

The BlackRock MuniYield Funds focus on long-term municipal obligations that are investment-grade quality at the time of investment. This means that the funds invest in municipal securities that are considered relatively low-risk and have a strong capacity to meet their financial commitments. These obligations often have a maturity of more than ten years, providing a long-term investment horizon.

The funds may invest directly in municipal obligations or use derivatives to gain synthetic exposure. This flexibility allows the fund managers to optimize their investment strategies and potentially enhance returns while managing risk.

It is important to note that the BlackRock MuniYield Funds do not provide a guarantee of achieving their investment objectives. The value of investments can fluctuate, and there is always the risk of losing capital when investing in financial markets.

Overall, the BlackRock MuniYield Funds aim to provide shareholders with a stable source of tax-exempt income by investing primarily in high-quality, long-term municipal obligations. By focusing on investment-grade securities, the funds seek to balance the goal of generating income with prudent investment management.

Frequently asked questions