BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) Sees Large Drop in Short Interest

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

BlackRock MuniYield Quality Fund III Trading Down 0.7%

MYI traded down $0.08 during trading on Friday, reaching $10.66. 194,663 shares of the company’s stock were exchanged, compared to its average volume of 257,872. BlackRock MuniYield Quality Fund III has a one year low of $10.27 and a one year high of $11.46. The firm has a fifty day moving average price of $10.93 and a two-hundred day moving average price of $10.96.

BlackRock MuniYield Quality Fund III Announces Dividend

The firm also recently declared 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 is Tuesday, September 15th.

Institutional Trading of BlackRock MuniYield Quality Fund III

A number of institutional investors and hedge funds have recently bought and sold shares of MYI. Trust Co. of Vermont bought a new position in BlackRock MuniYield Quality Fund III during the 4th quarter worth $25,000. CoreCap Advisors LLC bought a new stake in shares of BlackRock MuniYield Quality Fund III in the 2nd quarter valued at about $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of BlackRock MuniYield Quality Fund III in the first quarter valued at about $42,000. EverSource Wealth Advisors LLC bought a new position in shares of BlackRock MuniYield Quality Fund III during the first quarter worth about $44,000. Finally, Elyxium Wealth LLC bought a new position in shares of BlackRock MuniYield Quality Fund III during the fourth quarter worth about $69,000. 34.01% of the stock is currently owned by institutional investors and hedge funds.

BlackRock MuniYield Quality Fund III Company Profile

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.