BlackRock MuniYield Quality Fund III (NYSE:MYI) Hits New 1-Year Low – What’s Next?

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $9.91 and last traded at $9.9060, with a volume of 119162 shares trading hands. The stock had previously closed at $10.00.

BlackRock MuniYield Quality Fund III Price Performance

The stock has a 50-day moving average price of $10.63 and a 200 day moving average price of $10.80.

BlackRock MuniYield Quality Fund III Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be issued a $0.0555 dividend. The ex-dividend date is Friday, December 11th. This represents a c) dividend on an annualized basis and a yield of 6.8%.

Institutional Investors Weigh In On BlackRock MuniYield Quality Fund III

Hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. grew its position in shares of BlackRock MuniYield Quality Fund III by 0.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 249,293 shares of the investment management company’s stock worth $2,710,000 after buying an additional 2,055 shares during the period. CoreCap Advisors LLC acquired a new stake in shares of BlackRock MuniYield Quality Fund III during the second quarter worth $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of BlackRock MuniYield Quality Fund III during the first quarter worth $42,000. EverSource Wealth Advisors LLC bought a new stake in BlackRock MuniYield Quality Fund III in the 1st quarter valued at $44,000. Finally, Moors & Cabot Inc. lifted its position in BlackRock MuniYield Quality Fund III by 17.1% in the 4th quarter. Moors & Cabot Inc. now owns 32,890 shares of the investment management company’s stock valued at $358,000 after acquiring an additional 4,800 shares in the last quarter. Hedge funds and other institutional investors own 34.01% of the company’s stock.

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 exempt from regular U.S. federal income tax. The fund invests primarily in a portfolio of municipal bonds and other municipal obligations issued by states, cities, counties, and related public entities.

The fund generally focuses on investment-grade municipal securities, although it may also invest in lower-rated obligations when permitted by its investment policies.