BlackRock MuniYield Quality Fund, Inc. $MQY Stake Boosted by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its MQY stake by 271.9% in the first quarter, holding 234,235 shares valued at approximately $2.57 million. Other institutions, including Bank of America and Rivernorth Capital Management, also significantly expanded their positions.
• MQY opened at $11.36, compared with a 52-week range of $10.84 to $11.94, while 25.51% of the fund is owned by institutional investors.
• The closed-end municipal bond fund declared a $0.058 monthly dividend, representing a 6.1% annualized yield, and focuses primarily on investment-grade municipal securities whose income is generally exempt from federal income tax.

NewEdge Advisors LLC boosted its stake in shares of BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY - Free Report) by 271.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 234,235 shares of the financial services provider's stock after purchasing an additional 171,251 shares during the quarter. NewEdge Advisors LLC owned approximately 0.16% of BlackRock MuniYield Quality Fund worth $2,572,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Concorde Asset Management LLC acquired a new position in shares of BlackRock MuniYield Quality Fund during the first quarter valued at $502,000. Segall Bryant & Hamill LLC acquired a new stake in shares of BlackRock MuniYield Quality Fund in the 1st quarter worth about $318,000. Bank of America Corp DE increased its holdings in shares of BlackRock MuniYield Quality Fund by 220.5% in the 1st quarter. Bank of America Corp DE now owns 1,715,834 shares of the financial services provider's stock worth $18,840,000 after acquiring an additional 1,180,482 shares during the period. Centaurus Financial Inc. bought a new stake in BlackRock MuniYield Quality Fund in the 1st quarter valued at about $132,000. Finally, Rivernorth Capital Management LLC lifted its position in BlackRock MuniYield Quality Fund by 223.8% in the 1st quarter. Rivernorth Capital Management LLC now owns 7,899,355 shares of the financial services provider's stock valued at $86,735,000 after purchasing an additional 5,459,910 shares during the last quarter. 25.51% of the stock is currently owned by institutional investors.

BlackRock MuniYield Quality Fund Stock Performance

NYSE MQY opened at $11.36 on Friday. BlackRock MuniYield Quality Fund, Inc. has a 52 week low of $10.84 and a 52 week high of $11.94. The company has a 50-day moving average price of $11.43 and a two-hundred day moving average price of $11.44.

BlackRock MuniYield Quality Fund Dividend Announcement

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 paid a $0.058 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 6.1%.

BlackRock MuniYield Quality Fund 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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