Rivernorth Capital Management LLC Has $86.73 Million Holdings in BlackRock MuniYield Quality Fund, Inc. $MQY

Key Points

• Rivernorth Capital Management increased its MQY position by 223.8% in the first quarter, acquiring 5.46 million additional shares. It now owns 7.90 million shares, representing approximately 5.25% of the fund and $86.73 million in value.
• Institutional investors own 25.51% of BlackRock MuniYield Quality Fund, with several firms establishing new positions during the fourth quarter and first quarter.
• MQY recently announced a $0.058 monthly dividend, implying an annualized yield of about 6.2%. Shares opened at $11.29, compared with a 12-month range of $10.80 to $11.94.

Rivernorth Capital Management LLC grew its position in BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY - Free Report) by 223.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,899,355 shares of the financial services provider's stock after buying an additional 5,459,910 shares during the period. BlackRock MuniYield Quality Fund makes up about 4.4% of Rivernorth Capital Management LLC's investment portfolio, making the stock its 2nd largest holding. Rivernorth Capital Management LLC owned about 5.25% of BlackRock MuniYield Quality Fund worth $86,735,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new position in BlackRock MuniYield Quality Fund in the 4th quarter valued at approximately $32,000. Garton & Associates Financial Advisors LLC bought a new position in BlackRock MuniYield Quality Fund during the 4th quarter valued at about $32,000. Geneos Wealth Management Inc. purchased a new stake in shares of BlackRock MuniYield Quality Fund during the 1st quarter valued at about $34,000. Fifth Third Bancorp bought a new stake in shares of BlackRock MuniYield Quality Fund in the first quarter worth approximately $54,000. Finally, Elyxium Wealth LLC purchased a new position in shares of BlackRock MuniYield Quality Fund during the fourth quarter valued at approximately $69,000. Institutional investors own 25.51% of the company's stock.

BlackRock MuniYield Quality Fund Stock Performance

Shares of MQY stock opened at $11.29 on Wednesday. BlackRock MuniYield Quality Fund, Inc. has a 12-month low of $10.80 and a 12-month high of $11.94. The firm's 50 day moving average is $11.44 and its 200 day moving average is $11.47.

BlackRock MuniYield Quality Fund Announces Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 6.2%.

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.

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.