BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY) Short Interest Update

Key Points

• Short interest surged 136.3% to 111,165 shares as of September 15, though only about 0.1% of MQY’s shares are sold short and the days-to-cover ratio remains just 0.1.
• Institutional investors increased their exposure, with several firms initiating positions and Royal Bank of Canada expanding its holdings by 181%. Hedge funds and other institutions now own 25.51% of the fund.
• MQY traded at $10.18, near its 12-month low of $10.09, while maintaining a monthly dividend of $0.058 per share, equivalent to an annualized yield of approximately 6.8%.

BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY - Get Free Report) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totaling 111,165 shares, a growth of 136.3% from the August 31st total of 47,048 shares. Based on an average daily volume of 860,744 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On BlackRock MuniYield Quality Fund

Several large investors have recently made changes to their positions in MQY. Cura Wealth Advisors LLC purchased a new position in BlackRock MuniYield Quality Fund in the 2nd quarter worth approximately $3,120,000. Allspring Global Investments Holdings LLC bought a new position in BlackRock MuniYield Quality Fund in the 1st quarter worth approximately $2,660,000. Bank of America Corp DE purchased a new stake in BlackRock MuniYield Quality Fund during the 2nd quarter valued at approximately $13,028,000. Royal Bank of Canada grew its holdings in BlackRock MuniYield Quality Fund by 181.0% during the 1st quarter. Royal Bank of Canada now owns 190,734 shares of the financial services provider's stock valued at $2,094,000 after buying an additional 122,847 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of BlackRock MuniYield Quality Fund during the second quarter valued at approximately $1,162,000. 25.51% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock MuniYield Quality Fund Stock Performance

Shares of NYSE MQY traded up $0.03 during midday trading on Friday, reaching $10.18. The stock had a trading volume of 858,290 shares, compared to its average volume of 827,725. BlackRock MuniYield Quality Fund has a 12-month low of $10.09 and a 12-month high of $11.94. The stock has a 50-day moving average of $10.98 and a 200-day moving average of $11.24.

BlackRock MuniYield Quality Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be paid a $0.0580 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Friday, December 11th.

BlackRock MuniYield Quality Fund Company Profile

BlackRock MuniYield Quality Fund, Inc is a closed-end management investment company listed on the New York Stock Exchange under the symbol MQY. The fund seeks to provide current income that is exempt from regular U.S. federal income tax by investing primarily in a portfolio of municipal obligations issued by states, territories, municipalities and other governmental entities.

The fund generally invests in longer-term municipal bonds and may allocate assets across various sectors of the municipal market, including essential-service areas such as education, health care, transportation, utilities and public infrastructure.

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