BlackRock Corporate High Yield Fund: At This Price, The Risk Is Worth It [Seeking Alpha]
Blackrock Corporate High Yield Fund, Inc. (HYT)
US:NYSE Investor Relations:
blackrock.com/investing/products/240182/blackrock-corporate-high-yield-fund-vi-inc-usd-fund
Company Research
Source: Seeking Alpha
Summary HYT is now sitting with a discount to NAV above 24%. High yield debt comes with risk and volatility right now, but spreads have risen to the point where investors are being compensated for that risk. I continue to recommend avoiding bonds from the Energy sector, but HYT has a relatively low amount of exposure to this area. Main Thesis The purpose of this article is to evaluate the BlackRock Corporate High Yield Fund Inc. ( In hindsight, that outlook was correct, but I certainly did not forecast such a dramatic drop in prices. While the move has caught me by surprise, I see opportunities opening up in riskier products, such as HYT. As the sell-off intensifies, HYT is sitting with a discount to NAV above 20%. Further, the income stream is high enough now that it can withstand a distribution cut and still be attractive. This is especially true when we consider how low interest rates are around the globe. Finally, HYT is light on the Energy sector, which I view positively because
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HYT
Sec Filings
- 11/26/24 - Form NPORT-P
- 10/30/24 - Form 4
- HYT's page on the SEC website