Short Interest in BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY) Grows By 73.2%

Key Points

• Short interest in BlackRock MuniYield Quality Fund rose 73.2% to 197,063 shares as of July 15, though only about 0.1% of the fund’s shares are short and the days-to-cover ratio is 0.5.
• MQY shares opened at $11.24, below their 50-day and 200-day moving averages of approximately $11.45 and $11.46, respectively, and remain within a 52-week range of $10.84 to $11.94.
• The fund declared a monthly dividend of $0.058 per share, representing an annualized yield of about 6.2%; institutional investors own 25.51% of the stock.

BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY - Get Free Report) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totaling 197,063 shares, a growth of 73.2% from the June 30th total of 113,799 shares. Based on an average daily trading volume, of 409,100 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.1% of the company's stock are short sold.

BlackRock MuniYield Quality Fund Stock Performance

Shares of NYSE MQY opened at $11.24 on Friday. The business has a 50-day moving average of $11.45 and a 200-day moving average of $11.46. BlackRock MuniYield Quality Fund has a fifty-two week low of $10.84 and a fifty-two week high of $11.94.

BlackRock MuniYield Quality Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a dividend of $0.058 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 6.2%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Allied Private Wealth LLC bought a new stake in shares of BlackRock MuniYield Quality Fund during the 2nd quarter worth approximately $25,000. Ballast Advisors LLC bought a new position in shares of BlackRock MuniYield Quality Fund in the first quarter valued at $35,000. CoreFirst Bank & Trust acquired a new position in BlackRock MuniYield Quality Fund during the first quarter worth $72,000. NewEdge Advisors LLC increased its holdings in BlackRock MuniYield Quality Fund by 271.9% during the first quarter. NewEdge Advisors LLC now owns 234,235 shares of the financial services provider's stock worth $2,572,000 after buying an additional 171,251 shares during the last quarter. Finally, Concorde Asset Management LLC acquired a new position in BlackRock MuniYield Quality Fund during the first quarter worth $502,000. 25.51% of the stock is currently owned by institutional investors.

BlackRock MuniYield Quality Fund Company Profile

BlackRock MuniYield Quality Fund NYSE: MQY is a closed-end investment company that seeks to provide shareholders with a high level of current income exempt from federal income tax. The fund pursues its objective by investing primarily in a diversified portfolio of investment-grade municipal securities, including bonds issued by states, municipalities and their agencies across the United States. MQY may employ leverage to enhance income, in line with its stated risk and return objectives.

As part of BlackRock’s suite of municipal bond offerings, MQY benefits from the firm’s municipal fixed-income research, trading capabilities and credit analysis.

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