BlackRock MuniYield Quality Fund (NYSE:MQY) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Trading volume surged 167% to 1.32 million shares, while MQY rose 1.9% to $10.075; the price remained below its 50-day and 200-day moving averages.
• The fund declared a monthly dividend of $0.058 per share, equivalent to approximately $0.70 annually and a 6.9% yield.
• Institutional ownership stands at 25.51%, with several firms increasing or initiating positions, including RiverNorth Capital Management, Bank of America, and Cetera Investment Advisers.

Shares of BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY - Get Free Report) saw an uptick in trading volume on Thursday. 1,318,035 shares were traded during mid-day trading, an increase of 167% from the previous session's volume of 493,296 shares. The stock last traded at $10.0750 and had previously closed at $9.96.

BlackRock MuniYield Quality Fund Trading Up 1.9%

The business has a 50-day moving average price of $10.63 and a two-hundred day moving average price of $11.12.

BlackRock MuniYield Quality Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a dividend of $0.0580 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.70 annualized dividend and a dividend yield of 6.9%.

Institutional Investors Weigh In On BlackRock MuniYield Quality Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of MQY. Rivernorth Capital Management LLC raised its stake in shares of BlackRock MuniYield Quality Fund by 223.8% in the first quarter. Rivernorth Capital Management LLC now owns 7,899,355 shares of the financial services provider's stock valued at $86,735,000 after buying an additional 5,459,910 shares during the period. Bank of America Corp DE purchased a new stake in shares of BlackRock MuniYield Quality Fund in the second quarter worth about $21,090,000. Rareview Capital LLC bought a new position in shares of BlackRock MuniYield Quality Fund in the first quarter worth $4,930,000. Cura Wealth Advisors LLC purchased a new position in shares of BlackRock MuniYield Quality Fund during the second quarter worth about $3,120,000. Finally, Cetera Investment Advisers increased its holdings in shares of BlackRock MuniYield Quality Fund by 500.5% in the 1st quarter. Cetera Investment Advisers now owns 313,561 shares of the financial services provider's stock worth $3,443,000 after buying an additional 261,344 shares during the last quarter. Institutional investors own 25.51% of the company's stock.

About BlackRock MuniYield Quality Fund

BlackRock MuniYield Quality Fund, Inc NYSE: MQY is a closed-end investment fund managed by BlackRock Advisors, LLC. The fund seeks to provide current income that is exempt from regular U.S. 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 governmental entities throughout the United States. Its portfolio may include general obligation bonds, revenue bonds, and other tax-exempt securities used to finance public infrastructure and services.

As a national municipal bond fund, BlackRock MuniYield Quality Fund generally invests across multiple U.S.

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.