BlackRock MuniYield Quality Fund III (NYSE:MYI) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Price breakout: MYI crossed above its 200-day moving average, trading as high as $11.07 versus the 200-day average of $10.98 and last trading at about $11.015 with volume of 166,729 shares.
• Dividend announced: The fund declared a monthly dividend of $0.0555 per share payable July 1 with record/ex-dividend date June 15, implying an annualized yield of roughly 6.0%.
• Institutional interest and strategy: Several institutions increased stakes (institutions own about 34.01% of the stock), and the closed-end fund primarily invests in investment‑grade municipal securities to provide federally tax‑exempt income.

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.98 and traded as high as $11.07. BlackRock MuniYield Quality Fund III shares last traded at $11.0150, with a volume of 166,729 shares trading hands.

BlackRock MuniYield Quality Fund III Stock Performance

The business has a 50-day moving average price of $10.96 and a 200 day moving average price of $10.98.

BlackRock MuniYield Quality Fund III Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a dividend of $0.0555 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 6.0%.

Institutional Trading of BlackRock MuniYield Quality Fund III

A number of institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. lifted its holdings in BlackRock MuniYield Quality Fund III by 0.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,554,195 shares of the investment management company's stock worth $16,894,000 after purchasing an additional 12,912 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in BlackRock MuniYield Quality Fund III by 6.7% during the 4th quarter. Guggenheim Capital LLC now owns 1,435,436 shares of the investment management company's stock worth $15,603,000 after purchasing an additional 89,854 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in BlackRock MuniYield Quality Fund III by 5.0% during the 3rd quarter. Raymond James Financial Inc. now owns 953,457 shares of the investment management company's stock worth $10,564,000 after purchasing an additional 45,120 shares in the last quarter. UBS Group AG lifted its holdings in BlackRock MuniYield Quality Fund III by 3.1% during the 4th quarter. UBS Group AG now owns 637,653 shares of the investment management company's stock worth $6,931,000 after purchasing an additional 18,893 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in BlackRock MuniYield Quality Fund III by 25.1% during the 4th quarter. Advisors Asset Management Inc. now owns 512,926 shares of the investment management company's stock worth $5,576,000 after purchasing an additional 102,753 shares in the last quarter. Hedge funds and other institutional investors 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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