BlackRock MuniYield Quality Fund III (NYSE:MYI) Sees Large Volume Increase – Time to Buy?

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) shares saw unusually-strong trading volume on Thursday . Approximately 422,000 shares were traded during mid-day trading, an increase of 84% from the previous session’s volume of 229,253 shares.The stock last traded at $10.92 and had previously closed at $10.98.

BlackRock MuniYield Quality Fund III Price Performance

The stock has a 50 day moving average of $11.33 and a 200-day moving average of $11.46.

BlackRock MuniYield Quality Fund III Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.0555 dividend. This represents a $0.67 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend is Monday, December 16th.

Institutional Investors Weigh In On BlackRock MuniYield Quality Fund III

A number of institutional investors and hedge funds have recently modified their holdings of MYI. Hennion & Walsh Asset Management Inc. raised its position in BlackRock MuniYield Quality Fund III by 11.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 986,901 shares of the investment management company’s stock worth $11,843,000 after buying an additional 104,304 shares during the last quarter. Stifel Financial Corp increased its stake in shares of BlackRock MuniYield Quality Fund III by 40.0% in the third quarter. Stifel Financial Corp now owns 623,360 shares of the investment management company’s stock worth $7,480,000 after acquiring an additional 177,997 shares during the period. Van ECK Associates Corp raised its holdings in shares of BlackRock MuniYield Quality Fund III by 17.9% during the second quarter. Van ECK Associates Corp now owns 492,047 shares of the investment management company’s stock worth $5,501,000 after purchasing an additional 74,557 shares during the last quarter. Raymond James & Associates lifted its position in BlackRock MuniYield Quality Fund III by 2.9% during the third quarter. Raymond James & Associates now owns 439,416 shares of the investment management company’s stock valued at $5,273,000 after purchasing an additional 12,335 shares during the period. Finally, Melfa Wealth Management Inc. lifted its position in BlackRock MuniYield Quality Fund III by 1.9% during the third quarter. Melfa Wealth Management Inc. now owns 240,790 shares of the investment management company’s stock valued at $2,889,000 after purchasing an additional 4,512 shares during the period. Institutional investors and hedge funds own 34.01% of the company’s stock.

BlackRock MuniYield Quality Fund III Company Profile

BlackRock MuniYield Quality Fund III, Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in a portfolio of long-term investment-grade municipal obligations exempt from federal income taxes.