Bank of America Corp DE Acquires Shares of 1,818,147 BlackRock MuniYield Quality Fund, Inc. $MQY

Key Points

• Bank of America acquired 1,818,147 shares of BlackRock MuniYield Quality Fund in the second quarter, valued at approximately $21.1 million and representing about 1.21% of MQY.
• Institutional interest increased, led by RiverNorth Capital Management, which raised its position by 223.8% to 7.9 million shares. Hedge funds and other institutional investors collectively own 25.51% of the fund.
• MQY traded near its one-year low at $10.21, while the fund declared a monthly dividend of $0.058, implying an annualized yield of approximately 6.8%.

Bank of America Corp DE acquired a new stake in BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,818,147 shares of the financial services provider's stock, valued at approximately $21,090,000. Bank of America Corp DE owned about 1.21% of BlackRock MuniYield Quality Fund at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MQY. Rivernorth Capital Management LLC lifted its position in BlackRock MuniYield Quality Fund by 223.8% in the first quarter. Rivernorth Capital Management LLC now owns 7,899,355 shares of the financial services provider's stock worth $86,735,000 after buying an additional 5,459,910 shares during the last quarter. Rareview Capital LLC purchased a new position in shares of BlackRock MuniYield Quality Fund during the 1st quarter worth about $4,930,000. Cetera Investment Advisers boosted its stake in shares of BlackRock MuniYield Quality Fund by 500.5% during the 1st quarter. Cetera Investment Advisers now owns 313,561 shares of the financial services provider's stock worth $3,443,000 after purchasing an additional 261,344 shares during the period. Cura Wealth Advisors LLC bought a new position in BlackRock MuniYield Quality Fund during the 2nd quarter valued at about $3,120,000. Finally, Rockefeller Capital Management L.P. grew its holdings in BlackRock MuniYield Quality Fund by 12.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 235,591 shares of the financial services provider's stock valued at $2,662,000 after purchasing an additional 25,533 shares during the last quarter. Hedge funds and other institutional investors own 25.51% of the company's stock.

BlackRock MuniYield Quality Fund Price Performance

BlackRock MuniYield Quality Fund stock opened at $10.21 on Thursday. BlackRock MuniYield Quality Fund, Inc. has a 1-year low of $10.20 and a 1-year high of $11.94. The company's 50-day moving average is $11.04 and its 200 day moving average is $11.26.

BlackRock MuniYield Quality Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be issued a $0.058 dividend. This represents a c) annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Friday, December 11th.

About BlackRock MuniYield Quality Fund

BlackRock MuniYield Quality Fund, Inc is a closed-end management investment company listed on the New York Stock Exchange under the symbol MQY. The fund seeks to provide current income that is exempt from regular U.S. federal income tax by investing primarily in a portfolio of municipal obligations issued by states, territories, municipalities and other governmental entities.

The fund generally invests in longer-term municipal bonds and may allocate assets across various sectors of the municipal market, including essential-service areas such as education, health care, transportation, utilities and public infrastructure.

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