Short Interest in BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) Decreases By 43.7%

Key Points

• Short interest fell 43.7% to 56,674 shares as of July 15, representing 0.0% of MYI’s shares and just 0.2 days of average trading volume.
• MYI traded at $10.77, near the lower end of its 12-month range of $10.22 to $11.46. Its 50-day and 200-day moving averages were $10.93 and $10.96, respectively.
• The fund declared a monthly dividend of $0.0555 per share, payable October 1 to shareholders of record September 15, implying a 6.2% annualized yield. Institutional investors own 34.01% of the fund.

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI - Get Free Report) was the target of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 56,674 shares, a decline of 43.7% from the June 30th total of 100,576 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 323,644 shares, the short-interest ratio is currently 0.2 days.

BlackRock MuniYield Quality Fund III Stock Performance

MYI traded up $0.01 during midday trading on Wednesday, reaching $10.77. The company's stock had a trading volume of 159,067 shares, compared to its average volume of 252,046. The company has a fifty day simple moving average of $10.93 and a 200 day simple moving average of $10.96. BlackRock MuniYield Quality Fund III has a twelve month low of $10.22 and a twelve month high of $11.46.

BlackRock MuniYield Quality Fund III Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.0555 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Investors Weigh In On BlackRock MuniYield Quality Fund III

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rivernorth Capital Management LLC grew its position in BlackRock MuniYield Quality Fund III by 200.0% during 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 acquiring an additional 3,502,884 shares during the last quarter. Guggenheim Capital LLC boosted its stake in BlackRock MuniYield Quality Fund III by 6.7% in the fourth quarter. Guggenheim Capital LLC now owns 1,435,436 shares of the investment management company's stock valued at $15,603,000 after acquiring an additional 89,854 shares during the last quarter. Bank of America Corp DE grew its stake in shares of BlackRock MuniYield Quality Fund III by 78.6% during the first quarter. Bank of America Corp DE now owns 1,173,240 shares of the investment management company's stock worth $12,331,000 after purchasing an additional 516,460 shares during the period. Raymond James Financial Inc. increased its stake in shares of BlackRock MuniYield Quality Fund III by 5.0% in the 3rd quarter. Raymond James Financial Inc. now owns 953,457 shares of the investment management company's stock valued at $10,564,000 after acquiring an additional 45,120 shares during the last quarter. Finally, UBS Group AG increased its stake in BlackRock MuniYield Quality Fund III by 3.1% in the fourth quarter. UBS Group AG now owns 637,653 shares of the investment management company's stock valued at $6,931,000 after purchasing an additional 18,893 shares in 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 NYSE: MYI is a closed-end management investment company that seeks to provide investors with a high level of current income exempt from federal income tax. The fund primarily invests in a diversified portfolio of investment-grade municipal securities, including bonds, notes and other debt obligations issued by state and local governments, agencies and authorities across the United States.

In managing its portfolio, the fund generally allocates at least 80% of its total assets to investment-grade municipal debt instruments.

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