BlackRock MuniYield Quality Fund III (NYSE:MYI) Sees Strong Trading Volume - Here's Why

Key Points

• Shares traded heavily—238,561 shares changed hands (up 28% from the prior session) and the stock last traded at $10.43, roughly in line with its 50‑day ($11.05) and 200‑day ($11.00) moving averages.
• The fund declared a monthly dividend of $0.0555 payable July 1 with an ex‑dividend/record date of June 15, implying an annualized dividend yield of about 6.4%.
• BlackRock MuniYield Quality Fund III is a closed‑end fund that allocates at least 80% to investment‑grade municipal securities; institutional investors own roughly 34.01% of the shares and several managers recently increased their positions.

Shares of BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI - Get Free Report) saw strong trading volume on Monday . 238,561 shares traded hands during mid-day trading, an increase of 28% from the previous session's volume of 185,667 shares.The stock last traded at $10.43 and had previously closed at $10.45.

BlackRock MuniYield Quality Fund III Trading Down 0.1%

The company has a 50-day moving average price of $11.05 and a 200-day moving average price of $11.00.

BlackRock MuniYield Quality Fund III Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.0555 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 6.4%.

Institutional Investors Weigh In On BlackRock MuniYield Quality Fund III

Institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. raised its position in BlackRock MuniYield Quality Fund III by 803.9% in the first quarter. Geneos Wealth Management Inc. now owns 5,053 shares of the investment management company's stock worth $56,000 after acquiring an additional 4,494 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of BlackRock MuniYield Quality Fund III by 1.4% in the 2nd quarter. NewEdge Advisors LLC now owns 206,048 shares of the investment management company's stock worth $2,161,000 after purchasing an additional 2,822 shares in the last quarter. Karpus Management Inc. lifted its stake in BlackRock MuniYield Quality Fund III by 3.0% during the second quarter. Karpus Management Inc. now owns 327,800 shares of the investment management company's stock valued at $3,439,000 after purchasing an additional 9,600 shares during the last quarter. Jane Street Group LLC bought a new stake in BlackRock MuniYield Quality Fund III during the second quarter worth approximately $373,000. Finally, Kim LLC boosted its holdings in BlackRock MuniYield Quality Fund III by 1.1% during the second quarter. Kim LLC now owns 203,124 shares of the investment management company's stock worth $2,131,000 after buying an additional 2,117 shares in the last quarter. Institutional investors and hedge funds own 34.01% of the company's stock.

BlackRock MuniYield Quality Fund III Company Profile

BlackRock MuniYield Quality Fund III NYSE: MYI is a closed-end management investment company that seeks to provide investors with a high level of current income exempt from federal income tax. The fund primarily invests in a diversified portfolio of investment-grade municipal securities, including bonds, notes and other debt obligations issued by state and local governments, agencies and authorities across the United States.

In managing its portfolio, the fund generally allocates at least 80% of its total assets to investment-grade municipal debt instruments.

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