Focused Wealth Management Inc Takes Position in BlackRock MuniYield Quality Fund III, Inc. $MYI

Key Points

• Focused Wealth Management purchased 185,795 shares of BlackRock MuniYield Quality Fund III in the second quarter, valued at approximately $1.89 million and representing about 0.15% of the fund.
• Institutional interest increased, with RiverNorth Capital Management doubling its position and Bank of America expanding its stake by 78.6%; institutional investors collectively own 34.01% of MYI.
• MYI traded at $10.77, below its 50-day and 200-day moving averages, while announcing a monthly dividend of $0.0555 per share, implying an annualized yield of about 6.2%.

Focused Wealth Management Inc purchased a new position in BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 185,795 shares of the investment management company's stock, valued at approximately $1,886,000. Focused Wealth Management Inc owned about 0.15% of BlackRock MuniYield Quality Fund III at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of MYI. Rivernorth Capital Management LLC increased its stake in BlackRock MuniYield Quality Fund III by 200.0% during the 1st quarter. Rivernorth Capital Management LLC now owns 5,254,333 shares of the investment management company's stock valued at $55,223,000 after purchasing an additional 3,502,884 shares in the last quarter. Guggenheim Capital LLC raised its holdings in BlackRock MuniYield Quality Fund III by 6.7% in the fourth quarter. Guggenheim Capital LLC now owns 1,435,436 shares of the investment management company's stock worth $15,603,000 after buying an additional 89,854 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of BlackRock MuniYield Quality Fund III by 78.6% in the first quarter. Bank of America Corp DE now owns 1,173,240 shares of the investment management company's stock worth $12,331,000 after buying an additional 516,460 shares in the last quarter. Raymond James Financial Inc. lifted its stake in shares of BlackRock MuniYield Quality Fund III by 5.0% in the third quarter. Raymond James Financial Inc. now owns 953,457 shares of the investment management company's stock worth $10,564,000 after buying an additional 45,120 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of BlackRock MuniYield Quality Fund III by 3.1% during the fourth quarter. UBS Group AG now owns 637,653 shares of the investment management company's stock valued at $6,931,000 after buying an additional 18,893 shares during the last quarter. Hedge funds and other institutional investors own 34.01% of the company's stock.

BlackRock MuniYield Quality Fund III Trading Down 0.6%

NYSE:MYI opened at $10.77 on Tuesday. The company's 50 day moving average price is $10.91 and its 200-day moving average price is $10.93. BlackRock MuniYield Quality Fund III, Inc. has a 52 week low of $10.35 and a 52 week high of $11.46.

BlackRock MuniYield Quality Fund III Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a $0.0555 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 6.2%.

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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