BlackRock MuniYield Quality Fund III (NYSE:MYI) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Trading volume surged 239% to approximately 1.18 million shares, while MYI rose 1.7% to $9.62. The price remains below its 50-day and 200-day moving averages of $10.26 and $10.66, respectively.
• MYI declared a monthly dividend of $0.0555 per share, equivalent to about $0.67 annually and a 6.9% yield. The ex-dividend date and record date are December 11, with payment scheduled for December 22.
• Institutional investors own 34.01% of the fund, with several firms increasing their positions or initiating new stakes. MYI is a BlackRock closed-end municipal bond fund focused on federally tax-exempt income.

Shares of BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI - Get Free Report) saw an uptick in trading volume on Thursday. Approximately 1,182,326 shares traded hands during trading, an increase of 239% from the previous session's volume of 348,735 shares. The stock last traded at $9.62 and had previously closed at $9.52.

BlackRock MuniYield Quality Fund III Stock Up 1.7%

The company's fifty day moving average price is $10.26 and its two-hundred day moving average price is $10.66.

BlackRock MuniYield Quality Fund III Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be given a $0.0555 dividend. The ex-dividend date is Friday, December 11th. This represents a $0.67 dividend on an annualized basis and a yield of 6.9%.

Institutional Trading of BlackRock MuniYield Quality Fund III

Large investors have recently added to or reduced their stakes in the company. David J Yvars Group bought a new stake in BlackRock MuniYield Quality Fund III during the 3rd quarter worth about $144,000. Farther Finance Advisors LLC raised its stake in shares of BlackRock MuniYield Quality Fund III by 69.4% in the third quarter. Farther Finance Advisors LLC now owns 9,762 shares of the investment management company's stock worth $94,000 after acquiring an additional 4,000 shares during the last quarter. Eastern Bank lifted its position in shares of BlackRock MuniYield Quality Fund III by 21.4% during the third quarter. Eastern Bank now owns 56,635 shares of the investment management company's stock worth $545,000 after purchasing an additional 10,000 shares in the last quarter. Noble Wealth Management PBC grew its stake in shares of BlackRock MuniYield Quality Fund III by 1.8% during the third quarter. Noble Wealth Management PBC now owns 63,620 shares of the investment management company's stock valued at $613,000 after purchasing an additional 1,148 shares during the last quarter. Finally, Corient Private Wealth LP bought a new stake in shares of BlackRock MuniYield Quality Fund III during the second quarter valued at approximately $157,000. 34.01% of the stock is owned by institutional investors.

About BlackRock MuniYield Quality Fund III

BlackRock MuniYield Quality Fund III, Inc NYSE: MYI is a closed-end municipal bond fund managed by BlackRock. The fund seeks to provide current income that is exempt from regular federal income tax, with capital appreciation as a secondary objective.

The fund invests primarily in long-term municipal obligations issued by states, municipalities and other public entities throughout the United States. Its portfolio may include bonds financing public infrastructure and essential services, such as transportation, education, health care, utilities and other government-related projects.

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