BlackRock MuniYield Quality Fund III, Inc. $MYI Stake Boosted by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services increased its MYI stake by 128% in the first quarter, ending with 192,252 shares valued at approximately $2.02 million. Other institutions, including Allspring Global Investments and Scarborough Advisors, also expanded their positions, while institutional investors collectively own 34.01% of the fund.
• MYI shares opened at $10.76, below their 50-day and 200-day moving averages of $10.93 and $10.96, respectively. The fund has traded between $10.22 and $11.46 over the past year.
• The fund declared a monthly dividend of $0.0555 per share, representing an annualized yield of approximately 6.2%; shareholders of record on September 15 are scheduled to receive payment on October 1.

PNC Financial Services Group Inc. boosted its holdings in BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI - Free Report) by 128.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,252 shares of the investment management company's stock after purchasing an additional 107,926 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.16% of BlackRock MuniYield Quality Fund III worth $2,021,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in shares of BlackRock MuniYield Quality Fund III by 298.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 537,780 shares of the investment management company's stock worth $5,652,000 after buying an additional 402,688 shares during the last quarter. Indiana Trust & Investment Management Co bought a new stake in shares of BlackRock MuniYield Quality Fund III during the 1st quarter valued at about $959,000. Scarborough Advisors LLC grew its position in shares of BlackRock MuniYield Quality Fund III by 168.8% during the 1st quarter. Scarborough Advisors LLC now owns 169,362 shares of the investment management company's stock valued at $1,780,000 after buying an additional 106,362 shares during the last quarter. Riverbridge Partners LLC acquired a new stake in BlackRock MuniYield Quality Fund III during the first quarter worth about $774,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in BlackRock MuniYield Quality Fund III during the first quarter worth about $746,000. Institutional investors own 34.01% of the company's stock.

BlackRock MuniYield Quality Fund III Price Performance

Shares of NYSE MYI opened at $10.76 on Thursday. The firm's 50-day moving average price is $10.93 and its two-hundred day moving average price is $10.96. BlackRock MuniYield Quality Fund III, Inc. has a 52-week low of $10.22 and a 52-week high of $11.46.

BlackRock MuniYield Quality Fund III Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.0555 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Tuesday, September 15th.

About BlackRock MuniYield Quality Fund III

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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