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

Key Points

• BlackRock MuniYield Quality Fund declared a monthly dividend of $0.058 per share, payable November 2 to shareholders of record on October 15. The annualized yield is approximately 6.6%.
• MQY shares opened at $10.53, near the fund’s one-year low of $10.52 and below its 50-day and 200-day moving averages of $11.25 and $11.35, respectively.
• Institutional ownership stands at 25.51%, with Rivernorth Capital Management significantly increasing its stake by 223.8%. The fund invests primarily in investment-grade municipal bonds and seeks federally tax-exempt income.

BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY - Get Free Report) announced a monthly dividend on Thursday, September 10th. Investors of record on Thursday, October 15th will be paid a dividend of 0.058 per share by the financial services provider on Monday, November 2nd. This represents a c) dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Thursday, October 15th.

BlackRock MuniYield Quality Fund Stock Performance

NYSE MQY opened at $10.53 on Friday. BlackRock MuniYield Quality Fund has a one year low of $10.52 and a one year high of $11.94. The firm's fifty day moving average is $11.25 and its two-hundred day moving average is $11.35.

Institutional Trading of BlackRock MuniYield Quality Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rivernorth Capital Management LLC grew its stake in shares of BlackRock MuniYield Quality Fund by 223.8% in the 1st quarter. Rivernorth Capital Management LLC now owns 7,899,355 shares of the financial services provider's stock valued at $86,735,000 after purchasing an additional 5,459,910 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of BlackRock MuniYield Quality Fund during the second quarter worth $21,090,000. Guggenheim Capital LLC grew its position in BlackRock MuniYield Quality Fund by 3.0% in the 4th quarter. Guggenheim Capital LLC now owns 1,557,152 shares of the financial services provider's stock valued at $17,596,000 after buying an additional 45,356 shares during the last quarter. Van ECK Associates Corp increased its stake in BlackRock MuniYield Quality Fund by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 1,194,747 shares of the financial services provider's stock valued at $13,859,000 after buying an additional 30,234 shares during the period. Finally, Wells Fargo & Company MN raised its position in BlackRock MuniYield Quality Fund by 6.3% during the 4th quarter. Wells Fargo & Company MN now owns 930,683 shares of the financial services provider's stock worth $10,517,000 after buying an additional 54,787 shares during the last quarter. 25.51% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniYield Quality Fund Company Profile

BlackRock MuniYield Quality Fund NYSE: MQY is a closed-end investment company that seeks to provide shareholders with a high level of current income exempt from federal income tax. The fund pursues its objective by investing primarily in a diversified portfolio of investment-grade municipal securities, including bonds issued by states, municipalities and their agencies across the United States. MQY may employ leverage to enhance income, in line with its stated risk and return objectives.

As part of BlackRock’s suite of municipal bond offerings, MQY benefits from the firm’s municipal fixed-income research, trading capabilities and credit analysis.

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