Short Interest in BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) Drops By 64.1%

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 33,700 shares, a decline of 64.1% from the October 15th total of 93,900 shares. Based on an average daily volume of 223,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in shares of BlackRock MuniYield Quality Fund III during the 2nd quarter worth approximately $42,000. Larson Financial Group LLC increased its position in shares of BlackRock MuniYield Quality Fund III by 238.1% during the third quarter. Larson Financial Group LLC now owns 6,085 shares of the investment management company’s stock worth $73,000 after acquiring an additional 4,285 shares during the period. Wolverine Asset Management LLC purchased a new stake in shares of BlackRock MuniYield Quality Fund III in the 2nd quarter worth $80,000. Icon Wealth Advisors LLC purchased a new position in BlackRock MuniYield Quality Fund III during the 3rd quarter valued at about $104,000. Finally, Callan Family Office LLC purchased a new stake in BlackRock MuniYield Quality Fund III during the second quarter worth $154,000. Institutional investors own 34.01% of the company’s stock.

BlackRock MuniYield Quality Fund III Trading Down 0.7 %

MYI traded down $0.07 during midday trading on Friday, reaching $11.31. 111,733 shares of the company’s stock traded hands, compared to its average volume of 222,601. BlackRock MuniYield Quality Fund III has a 52 week low of $10.36 and a 52 week high of $12.07. The firm has a fifty day moving average of $11.68 and a two-hundred day moving average of $11.40.

BlackRock MuniYield Quality Fund III Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.0555 dividend. This represents a $0.67 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date is Friday, November 15th.

About BlackRock MuniYield Quality Fund III

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.