BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) Shares Shorted: Short Interest Down 55.1% in October

Key Points

• Short interest fell 55.1% to 109,476 shares as of October 15, representing approximately 0.1% of MYI’s outstanding shares and just 0.1 days to cover.
• MYI shares rose 0.3% to $10.13, trading between a 52-week low of $9.37 and high of $11.46.
• The fund declared a monthly dividend of $0.0555 per share, equivalent to about $0.67 annually and a 6.6% yield; institutional investors and hedge funds own 34.01% of the stock.

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI - Get Free Report) saw a large decline in short interest in October. As of October 15th, there was short interest totaling 109,476 shares, a decline of 55.1% from the September 30th total of 243,845 shares. Approximately 0.1% of the company's shares are short sold. Based on an average trading volume of 1,223,183 shares, the days-to-cover ratio is presently 0.1 days.

BlackRock MuniYield Quality Fund III Stock Up 0.3%

Shares of BlackRock MuniYield Quality Fund III stock traded up $0.03 during trading on Friday, reaching $10.13. 491,831 shares of the company traded hands, compared to its average volume of 1,219,570. BlackRock MuniYield Quality Fund III has a 1-year low of $9.37 and a 1-year high of $11.46. The company has a 50 day moving average price of $10.05 and a 200-day moving average price of $10.72.

BlackRock MuniYield Quality Fund III Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be paid a $0.0555 dividend. This represents a $0.67 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Friday, November 13th.

Hedge Funds Weigh In On BlackRock MuniYield Quality Fund III

Several institutional investors have recently made changes to their positions in the stock. Rivernorth Capital Management LLC lifted its holdings in shares of BlackRock MuniYield Quality Fund III by 200.0% in the 1st quarter. Rivernorth Capital Management LLC now owns 5,254,333 shares of the investment management company's stock worth $55,223,000 after purchasing an additional 3,502,884 shares in the last quarter. Bank of America Corp DE bought a new stake in BlackRock MuniYield Quality Fund III during the 2nd quarter valued at $16,031,000. Van ECK Associates Corp increased its stake in BlackRock MuniYield Quality Fund III by 2.6% during the 2nd quarter. Van ECK Associates Corp now owns 973,208 shares of the investment management company's stock valued at $10,812,000 after purchasing an additional 24,636 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in BlackRock MuniYield Quality Fund III by 298.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 537,780 shares of the investment management company's stock valued at $5,652,000 after purchasing an additional 402,688 shares in the last quarter. Finally, Rareview Capital LLC raised its holdings in BlackRock MuniYield Quality Fund III by 22.1% during the first quarter. Rareview Capital LLC now owns 461,043 shares of the investment management company's stock worth $4,836,000 after buying an additional 83,565 shares during the last quarter. Institutional investors and hedge funds own 34.01% of the company's stock.

About BlackRock MuniYield Quality Fund III

BlackRock MuniYield Quality Fund III, Inc NYSE: MYI is a closed-end investment company that seeks to provide current income that is exempt from regular U.S. federal income tax. The fund primarily invests in municipal obligations issued by states, territories, and local governments, as well as related public authorities.

The fund's portfolio may include tax-exempt bonds and other municipal securities used to finance public infrastructure and services, such as schools, transportation systems, utilities, and healthcare facilities.

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