BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) Plans $0.06 Monthly Dividend

Key Points

• BlackRock MuniYield Quality Fund III declared a monthly dividend of $0.0555 per share, implying an approximately 6.5% annualized yield. Investors of record on December 11 will be paid on December 22, with December 11 listed as the ex-dividend date.
• MYI shares opened at $10.31, down 0.6%, near their 12-month low of $10.28 and below both their 50-day and 200-day moving averages.
• Institutional investors and hedge funds own 34.01% of the fund, with several major holders recently increasing their positions. MYI primarily invests in investment-grade municipal securities and seeks federally tax-exempt current income.

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI - Get Free Report) announced a monthly dividend on Thursday, September 10th. Investors of record on Friday, December 11th will be paid a dividend of 0.0555 per share by the investment management company on Tuesday, December 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Friday, December 11th.

BlackRock MuniYield Quality Fund III Trading Down 0.6%

Shares of NYSE MYI opened at $10.31 on Friday. BlackRock MuniYield Quality Fund III has a twelve month low of $10.28 and a twelve month high of $11.46. The stock has a 50 day moving average of $10.78 and a two-hundred day moving average of $10.86.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Rivernorth Capital Management LLC raised its holdings in BlackRock MuniYield Quality Fund III by 200.0% during the first quarter. Rivernorth Capital Management LLC now owns 5,254,333 shares of the investment management company's stock worth $55,223,000 after purchasing an additional 3,502,884 shares in the last quarter. Bank of America Corp DE acquired a new position in BlackRock MuniYield Quality Fund III during the 2nd quarter worth approximately $16,031,000. Guggenheim Capital LLC raised its stake in shares of 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 buying an additional 89,854 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of BlackRock MuniYield Quality Fund III by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 973,208 shares of the investment management company's stock valued at $10,812,000 after buying an additional 24,636 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in shares of BlackRock MuniYield Quality Fund III by 5.0% in the third quarter. Raymond James Financial Inc. now owns 953,457 shares of the investment management company's stock valued at $10,564,000 after buying an additional 45,120 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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