BlackRock Municipal Income Quality Trust (NYSE:BYM) Stock Crosses Below 50 Day Moving Average – Should You Sell?

BlackRock Municipal Income Quality Trust (NYSE:BYM)’s share price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $10.98 and traded as low as $10.97. BlackRock Municipal Income Quality Trust shares last traded at $11.0450, with a volume of 64,067 shares.

BlackRock Municipal Income Quality Trust Trading Down 0.6%

The business’s 50-day simple moving average is $10.98 and its two-hundred day simple moving average is $10.88.

BlackRock Municipal Income Quality Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 6th will be given a dividend of $0.0555 per share. The ex-dividend date is Friday, February 6th. This represents a c) annualized dividend and a dividend yield of 6.0%.

Hedge Funds Weigh In On BlackRock Municipal Income Quality Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in BlackRock Municipal Income Quality Trust by 10.0% during the 1st quarter. Royal Bank of Canada now owns 43,616 shares of the company’s stock worth $470,000 after acquiring an additional 3,968 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of BlackRock Municipal Income Quality Trust in the 1st quarter valued at about $408,000. Wolverine Asset Management LLC boosted its position in shares of BlackRock Municipal Income Quality Trust by 47.6% during the 2nd quarter. Wolverine Asset Management LLC now owns 24,809 shares of the company’s stock valued at $262,000 after purchasing an additional 8,006 shares in the last quarter. Bank of Montreal Can grew its stake in BlackRock Municipal Income Quality Trust by 6.8% during the second quarter. Bank of Montreal Can now owns 21,266 shares of the company’s stock worth $225,000 after purchasing an additional 1,348 shares during the period. Finally, Allworth Financial LP acquired a new stake in BlackRock Municipal Income Quality Trust during the second quarter worth approximately $103,000.

About BlackRock Municipal Income Quality Trust

BlackRock Municipal Income Quality Trust (NYSE:BYM) is a non-diversified, closed-end management investment company that primarily invests in investment grade municipal debt obligations. The trust’s objective is to provide current income exempt from federal income taxes, with a secondary emphasis on preserving capital. It achieves this by allocating its assets among a diversified portfolio of municipal bonds, variable rate demand notes and other municipal-related securities issued by U.S. state and local governments and their agencies.

Managed by BlackRock Fund Advisors, part of BlackRock, Inc, BYM leverages the firm’s extensive municipal bond research and credit analysis capabilities.