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Hedge Funds Are Betting On Blackrock Corporate High Yield Fund Inc (HYT)

At Insider Monkey, we follow around 730 of the best-performing investors and even though many of them lost money in the last several months, the history teaches us that over the long-run they still manage to beat the market, which is why it can be profitable for us to imitate their activity. Of course, even the best money managers can sometimes get it wrong, but following some of their picks gives us a better chance to outperform the crowd than picking a random stock and this is where our research comes in.

Is Blackrock Corporate High Yield Fund Inc (NYSE:HYT) an outstanding investment today? Investors who are in the know are buying. The number of long hedge fund positions went up by 2 in recent months. Blackrock Corporate High Yield Fund Inc (NYSE:HYT) was in 7 hedge funds’ portfolios at the end of September. There were 5 hedge funds in our database with Blackrock Corporate High Yield Fund Inc (NYSE:HYT) positions at the end of the previous quarter. At the end of this article, we will also compare Blackrock Corporate High Yield Fund Inc (NYSE:HYT) to other stocks, including REX American Resources Corp (NYSE:REX), LSB Industries, Inc. (NYSE:LXU), and Tristate Capital Holdings Inc (NASDAQ:TSC) to get a better sense of its popularity.

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According to most traders, hedge funds are viewed as worthless, old financial tools of the past. While there are greater than 8000 funds with their doors open at present, Our experts look at the leaders of this group, about 700 funds. These hedge fund managers oversee most of the smart money’s total asset base, and by shadowing their top picks, Insider Monkey has uncovered many investment strategies that have historically exceeded the broader indices. Insider Monkey’s small-cap hedge fund strategy defeated the S&P 500 index by 12 percentage points annually for a decade in their back tests.

Now, we’re going to review the key action surrounding Blackrock Corporate High Yield Fund Inc (NYSE:HYT).

Hedge fund activity in Blackrock Corporate High Yield Fund Inc (NYSE:HYT)

At the end of the third quarter, a total of 7 of the hedge funds tracked by Insider Monkey held long positions in this stock, an increase of 40% from the previous quarter. With hedge funds’ capital changing hands, there exists a few key hedge fund managers who were increasing their stakes significantly (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Boaz Weinstein’s Saba Capital has the most valuable position in Blackrock Corporate High Yield Fund Inc (NYSE:HYT), worth close to $61.3 million, accounting for 4.8% of its total 13F portfolio. Coming in second is Third Avenue Management, managed by Martin Whitman, which holds a $12.9 million position; 0.4% of its 13F portfolio is allocated to the company. Some other professional money managers that hold long positions encompass Brian Taylor’s Pine River Capital Management, Clint Carlson’s Carlson Capital, and Jonathan Barrett and Paul Segal’s Luminus Management.

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