Stayce D. Harris, a director at BlackRock (NYSE:BLK) MuniVest Fund II, Inc. (NYSE:MVT), recently acquired shares of the company. According to a recent SEC filing, Harris purchased 10 shares of common stock at a price of $10.86 per share on October 29, 2024. The total value of the transaction amounted to $108. Following this acquisition, Harris now owns 10 shares directly.
InvestingPro Insights
BlackRock MuniVest Fund II, Inc. (NYSE:MVT) has been demonstrating some interesting financial characteristics that provide context to the recent insider purchase by director Stayce D. Harris. According to InvestingPro data, the fund has a market capitalization of $226.97 million and a P/E ratio of 33.48, suggesting a relatively high valuation compared to earnings.
One of the most notable aspects of MVT is its dividend yield, which currently stands at an attractive 5.97%. This aligns with an InvestingPro Tip indicating that the fund "has maintained dividend payments for 32 consecutive years." This long-standing dividend history may be a factor in Harris's decision to invest, as it suggests stability and a commitment to shareholder returns.
Another InvestingPro Tip reveals that the "stock generally trades with low price volatility." This characteristic could be appealing to investors seeking steady performance, particularly in the municipal bond fund sector where MVT operates.
It's worth noting that InvestingPro has identified several additional tips that could provide further insights into MVT's financial health and market position. Investors interested in a more comprehensive analysis can access these tips through the InvestingPro product.
The fund's recent performance shows mixed results, with a 1-year price total return of 26.3%, indicating strong performance over the past year. However, shorter-term metrics show more modest gains, with a 3-month return of 0.18% and a 1-month return of -4.2%. These figures suggest that while the fund has performed well over the longer term, it may be experiencing some short-term volatility.
Given the insider purchase and the fund's financial metrics, investors may want to closely monitor MVT's performance and consider how it fits into their investment strategy, particularly in light of its consistent dividend history and low volatility characteristics.
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