Bank of New York Mellon Corp Buys New Holdings in BlackRock MuniYield Quality Fund III, Inc. $MYI

Key Points

• Bank of New York Mellon acquired 97,146 shares of BlackRock MuniYield Quality Fund III, valued at approximately $1.02 million and representing 0.08% of the fund.
• Several other institutional investors initiated or expanded positions, while institutional investors and hedge funds collectively own 34.01% of MYI.
• MYI was trading at $10.87 and recently declared a monthly dividend of $0.0555 per share, equivalent to an annualized yield of approximately 6.1%.

Bank of New York Mellon Corp bought a new position in shares of BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 97,146 shares of the investment management company's stock, valued at approximately $1,021,000. Bank of New York Mellon Corp owned 0.08% of BlackRock MuniYield Quality Fund III as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new position in shares of BlackRock MuniYield Quality Fund III during the 1st quarter worth about $42,000. Elyxium Wealth LLC acquired a new position in shares of BlackRock MuniYield Quality Fund III during the fourth quarter valued at approximately $69,000. Comerica Bank lifted its position in shares of BlackRock MuniYield Quality Fund III by 22,586.2% in the fourth 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 in the last quarter. Fifth Third Bancorp acquired a new stake in shares of BlackRock MuniYield Quality Fund III in the first quarter worth approximately $86,000. Finally, Citizens National Bank Trust Department purchased a new stake in shares of BlackRock MuniYield Quality Fund III during the first quarter worth approximately $103,000. Institutional investors and hedge funds own 34.01% of the company's stock.

BlackRock MuniYield Quality Fund III Price Performance

MYI opened at $10.87 on Friday. The company's 50 day simple moving average is $10.91 and its two-hundred day simple moving average is $10.94. BlackRock MuniYield Quality Fund III, Inc. has a 1-year low of $10.35 and a 1-year high of $11.46.

BlackRock MuniYield Quality Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.0555 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%.

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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