BlackRock MuniYield Quality Fund, Inc. $MQY Shares Sold by Cornerstone Advisory LLC

Key Points

• Cornerstone Advisory LLC cut its stake in BlackRock MuniYield Quality Fund by 10.1% in the first quarter, selling 106,426 shares and leaving it with 942,983 shares worth about $10.35 million.
• Other institutional investors were mixed on MQY: some, including NewEdge Advisors, Cetera Investment Advisers, and Raymond James Financial, increased holdings, while Goldman Sachs Group initiated a new position. Institutional ownership stands at 25.51%.
• The fund’s stock opened at $11.64 and recently announced a monthly dividend of $0.058 per share, implying an annualized yield of about 6.0%.

Cornerstone Advisory LLC lowered its position in BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY - Free Report) by 10.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 942,983 shares of the financial services provider's stock after selling 106,426 shares during the period. BlackRock MuniYield Quality Fund accounts for approximately 1.0% of Cornerstone Advisory LLC's portfolio, making the stock its 23rd biggest holding. Cornerstone Advisory LLC owned approximately 0.63% of BlackRock MuniYield Quality Fund worth $10,354,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MQY. NewEdge Advisors LLC raised its position in shares of BlackRock MuniYield Quality Fund by 7.4% in the first quarter. NewEdge Advisors LLC now owns 45,824 shares of the financial services provider's stock valued at $537,000 after buying an additional 3,168 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in BlackRock MuniYield Quality Fund during the 1st quarter valued at about $594,000. Cetera Investment Advisers raised its holdings in BlackRock MuniYield Quality Fund by 20.6% in the 2nd quarter. Cetera Investment Advisers now owns 28,876 shares of the financial services provider's stock valued at $321,000 after acquiring an additional 4,939 shares during the last quarter. Raymond James Financial Inc. raised its holdings in BlackRock MuniYield Quality Fund by 22.1% in the 2nd quarter. Raymond James Financial Inc. now owns 284,228 shares of the financial services provider's stock valued at $3,158,000 after acquiring an additional 51,402 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in BlackRock MuniYield Quality Fund in the 2nd quarter valued at about $236,000. Institutional investors and hedge funds own 25.51% of the company's stock.

BlackRock MuniYield Quality Fund Stock Performance

Shares of BlackRock MuniYield Quality Fund stock opened at $11.64 on Wednesday. The stock's 50 day simple moving average is $11.43 and its 200-day simple moving average is $11.46. BlackRock MuniYield Quality Fund, Inc. has a 1-year low of $10.78 and a 1-year high of $11.94.

BlackRock MuniYield Quality Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $0.058 dividend. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date is Tuesday, September 15th.

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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