Coastal Bridge Advisors LLC Buys New Stake in BlackRock MuniYield Quality Fund, Inc. $MQY

Key Points

• Coastal Bridge Advisors LLC acquired 175,514 shares of BlackRock MuniYield Quality Fund, valued at approximately $1.95 million and representing about 0.12% of the fund. Institutional investors collectively own 25.51% of MQY.
• MQY shares opened at $11.11, down 0.2%, with the stock trading below its 50-day and 200-day moving averages and within a 52-week range of $10.84 to $11.94.
• The fund declared a monthly dividend of $0.058 per share, payable October 1 to shareholders of record September 15, implying an annualized yield of approximately 6.3%.

Coastal Bridge Advisors LLC bought a new stake in shares of BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 175,514 shares of the financial services provider's stock, valued at approximately $1,950,000. Coastal Bridge Advisors LLC owned approximately 0.12% of BlackRock MuniYield Quality Fund at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. acquired a new position in shares of BlackRock MuniYield Quality Fund during the second quarter valued at $25,000. Allied Private Wealth LLC bought a new stake in shares of BlackRock MuniYield Quality Fund during the second quarter valued at about $25,000. Global Retirement Partners LLC acquired a new stake in BlackRock MuniYield Quality Fund in the fourth quarter worth about $32,000. Garton & Associates Financial Advisors LLC acquired a new stake in BlackRock MuniYield Quality Fund in the fourth quarter worth about $32,000. Finally, Geneos Wealth Management Inc. bought a new position in BlackRock MuniYield Quality Fund in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 25.51% of the company's stock.

BlackRock MuniYield Quality Fund Trading Down 0.2%

Shares of MQY opened at $11.11 on Friday. The firm has a 50-day moving average price of $11.38 and a 200 day moving average price of $11.41. BlackRock MuniYield Quality Fund, Inc. has a 52-week low of $10.84 and a 52-week high of $11.94.

BlackRock MuniYield Quality Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.058 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 6.3%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source