BlackRock MuniYield Quality Fund III (NYSE:MYI) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) saw unusually-strong trading volume on Wednesday. Approximately 655,815 shares were traded during mid-day trading, an increase of 79% from the previous session’s volume of 366,875 shares. The stock last traded at $9.8270 and had previously closed at $9.91.

BlackRock MuniYield Quality Fund III Stock Down 1.1%

The company has a 50-day simple moving average of $10.18 and a two-hundred day simple moving average of $10.65.

BlackRock MuniYield Quality Fund III Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be given a $0.0555 dividend. This represents a $0.67 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Friday, December 11th.

Institutional Investors Weigh In On BlackRock MuniYield Quality Fund III

Several hedge funds and other institutional investors have recently bought and sold shares of MYI. Royal Bank of Canada lifted its stake in shares of BlackRock MuniYield Quality Fund III by 58.8% in the 1st quarter. Royal Bank of Canada now owns 349,623 shares of the investment management company’s stock valued at $3,675,000 after purchasing an additional 129,414 shares during the last quarter. Focused Wealth Management Inc acquired a new position in BlackRock MuniYield Quality Fund III in the 2nd quarter valued at $1,886,000. Bank of America Corp DE lifted its position in BlackRock MuniYield Quality Fund III by 78.6% during the 1st quarter. Bank of America Corp DE now owns 1,173,240 shares of the investment management company’s stock worth $12,331,000 after acquiring an additional 516,460 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of BlackRock MuniYield Quality Fund III in the first quarter worth about $1,021,000. Finally, Indiana Trust & Investment Management Co acquired a new position in shares of BlackRock MuniYield Quality Fund III during the 1st quarter worth about $959,000. 34.01% of the stock is currently owned by institutional investors.

About BlackRock MuniYield Quality Fund III

BlackRock MuniYield Quality Fund III, Inc (NYSE: MYI) is a closed-end investment company that seeks to provide current income that is exempt from regular U.S. federal income tax. The fund primarily invests in municipal obligations issued by states, territories, and local governments, as well as related public authorities.

The fund’s portfolio may include tax-exempt bonds and other municipal securities used to finance public infrastructure and services, such as schools, transportation systems, utilities, and healthcare facilities.