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

Key Points

• Price moved above its 200‑day moving average: MYI traded as high as $11.12 and last at $11.02, surpassing its 200‑day MA of $10.99 on Monday with volume of 178,313 shares.
• Monthly dividend announced: The fund declared a $0.0555 monthly distribution (ex‑dividend and record date June 15) payable July 1, implying an annualized yield of about 6.0%.
• Fund profile and ownership: BlackRock MuniYield Quality Fund III is a closed‑end fund that targets primarily investment‑grade municipal debt (≥80% of assets), and roughly 34.01% of the shares are held by hedge funds and other institutional investors.

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.99 and traded as high as $11.12. BlackRock MuniYield Quality Fund III shares last traded at $11.02, with a volume of 178,313 shares.

BlackRock MuniYield Quality Fund III Price Performance

The company has a 50-day moving average price of $11.11 and a 200-day moving average price of $10.99.

BlackRock MuniYield Quality Fund III Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Investors 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 yield of 6.0%.

Institutional Investors Weigh In On BlackRock MuniYield Quality Fund III

Hedge funds and other institutional investors have recently modified their holdings of the company. Trust Co. of Vermont purchased a new position in shares of BlackRock MuniYield Quality Fund III during the fourth quarter valued at approximately $25,000. Traub Capital Management LLC purchased a new stake in BlackRock MuniYield Quality Fund III in the 2nd quarter worth approximately $43,000. Geneos Wealth Management Inc. grew its stake in BlackRock MuniYield Quality Fund III by 803.9% in the 1st 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 during the period. Elyxium Wealth LLC acquired a new position in BlackRock MuniYield Quality Fund III in the 4th quarter valued at $69,000. Finally, Comerica Bank raised its holdings in BlackRock MuniYield Quality Fund III by 22,586.2% in the 4th quarter. Comerica Bank now owns 6,579 shares of the investment management company's stock valued at $72,000 after acquiring an additional 6,550 shares during the last quarter. 34.01% of the stock is currently owned by hedge funds and other institutional investors.

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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