UPDATE: Stifel Nicolaus Initiates Hold on BlackRock MuniYield Pennsylvania Fund

Sfifel Nicolaus initiates coverage with a Hold rating on the BlackRock MuniYield Pennsylvania Quality Fund MPA, which provides investors with current income exempts from federal and PA income taxes. According to Stifel Nicolaus, “As of November 11, 2011, shares of MPA traded at a 0.03% premium to net asset value. This compares to one-year and three-year average discounts of 5.10% and 9.14%, respectively. … As of September 30, 2011, MPA had a total leverage amount of 35.90%. The Fund leveraged 23.8% with variable rate demand preferred shares and approximately 12.1% with tender option bonds.” MPA closed at $15.34 a share on Friday.