Rivernorth Capital Management LLC Has $82.29 Million Stock Holdings in BlackRock MuniYield Quality Fund, Inc. $MQY

Key Points

• Rivernorth Capital Management reduced its BlackRock MuniYield Quality Fund stake by 10.2% in the second quarter, selling 805,024 shares. It still held 7.09 million shares worth approximately $82.3 million, representing 4.72% of MQY and 3.9% of its portfolio.
• Other institutional investors made mixed moves, while institutional and hedge-fund ownership totaled 25.51% of MQY’s stock.
• MQY opened at $11.06, below its 50-day and 200-day moving averages, and declared a monthly dividend of $0.058 per share, equating to an annualized yield of approximately 6.3%.

Rivernorth Capital Management LLC cut its holdings in BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY - Free Report) by 10.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,094,331 shares of the financial services provider's stock after selling 805,024 shares during the period. BlackRock MuniYield Quality Fund accounts for approximately 3.9% of Rivernorth Capital Management LLC's portfolio, making the stock its 2nd biggest holding. Rivernorth Capital Management LLC owned 4.72% of BlackRock MuniYield Quality Fund worth $82,294,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. NewEdge Advisors LLC increased its position in BlackRock MuniYield Quality Fund by 7.4% in the 1st quarter. NewEdge Advisors LLC now owns 45,824 shares of the financial services provider's stock worth $537,000 after buying an additional 3,168 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of BlackRock MuniYield Quality Fund in the first quarter worth $594,000. Cetera Investment Advisers increased its position in BlackRock MuniYield Quality Fund by 20.6% during the second quarter. Cetera Investment Advisers now owns 28,876 shares of the financial services provider's stock worth $321,000 after acquiring an additional 4,939 shares during the period. Raymond James Financial Inc. raised its stake in BlackRock MuniYield Quality Fund by 22.1% during 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 purchasing an additional 51,402 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in BlackRock MuniYield Quality Fund during the 2nd quarter valued at $236,000. Institutional investors and hedge funds own 25.51% of the company's stock.

BlackRock MuniYield Quality Fund Stock Performance

NYSE MQY opened at $11.06 on Monday. The company's fifty day moving average is $11.38 and its two-hundred day moving average is $11.40. 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 Dividend Announcement

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

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.

Want to see what other hedge funds are holding MQY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY - Free Report).

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