BlackRock MuniYield Quality Fund III, Inc. $MYI Shares Sold by Rivernorth Capital Management LLC

Key Points

• Rivernorth Capital Management reduced its BlackRock MuniYield Quality Fund III position by 9.4%, selling 493,372 shares and retaining 4.76 million shares valued at approximately $52.9 million.
• MYI shares opened at $10.72, near their 50-day and 200-day moving averages, with a 52-week range of $10.37 to $11.46. Institutional investors and hedge funds collectively own 34.01% of the fund.
• The fund declared a monthly dividend of $0.0555 per share, payable October 1 to shareholders of record September 15, representing a reported 6.2% yield. MYI primarily invests in investment-grade municipal securities whose income is generally exempt from federal income tax.

Rivernorth Capital Management LLC lowered its position in BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI - Free Report) by 9.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,760,961 shares of the investment management company's stock after selling 493,372 shares during the period. BlackRock MuniYield Quality Fund III accounts for about 2.5% of Rivernorth Capital Management LLC's holdings, making the stock its 4th biggest position. Rivernorth Capital Management LLC owned approximately 3.89% of BlackRock MuniYield Quality Fund III worth $52,894,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC bought a new stake in shares of BlackRock MuniYield Quality Fund III during the second quarter valued at approximately $25,000. Geneos Wealth Management Inc. bought a new position in shares of BlackRock MuniYield Quality Fund III in the 1st quarter worth $42,000. EverSource Wealth Advisors LLC acquired a new stake in BlackRock MuniYield Quality Fund III in the 1st quarter valued at $44,000. Elyxium Wealth LLC acquired a new stake in BlackRock MuniYield Quality Fund III in the 4th quarter valued at $69,000. Finally, Comerica Bank increased its stake in BlackRock MuniYield Quality Fund III by 22,586.2% during the 4th quarter. Comerica Bank now owns 6,579 shares of the investment management company's stock valued at $72,000 after purchasing an additional 6,550 shares in the last quarter. Institutional investors and hedge funds own 34.01% of the company's stock.

BlackRock MuniYield Quality Fund III Stock Performance

MYI opened at $10.72 on Monday. The company's fifty day moving average price is $10.87 and its two-hundred day moving average price is $10.91. BlackRock MuniYield Quality Fund III, Inc. has a 1-year low of $10.37 and a 1-year high of $11.46.

BlackRock MuniYield Quality Fund III Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid 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 yield of 6.2%.

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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