BlackRock MuniYield Quality Fund III (NYSE:MYI) Hits New 1-Year Low – Should You Sell?

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI)’s stock price hit a new 52-week low on Thursday . The company traded as low as $10.33 and last traded at $10.31, with a volume of 56405 shares traded. The stock had previously closed at $10.38.

BlackRock MuniYield Quality Fund III Stock Performance

The company’s 50 day moving average is $10.76 and its two-hundred day moving average is $10.86.

BlackRock MuniYield Quality Fund III Announces Dividend

The business 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 dividend of $0.0555 per share. This represents a c) annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Friday, December 11th.

Institutional Investors Weigh In On BlackRock MuniYield Quality Fund III

Several large investors have recently made changes to their positions in MYI. CoreCap Advisors LLC purchased a new stake in shares of BlackRock MuniYield Quality Fund III in the second quarter worth about $25,000. Geneos Wealth Management Inc. purchased a new position in BlackRock MuniYield Quality Fund III during the 1st quarter valued at approximately $42,000. EverSource Wealth Advisors LLC bought a new stake in BlackRock MuniYield Quality Fund III in the 1st quarter worth approximately $44,000. Elyxium Wealth LLC bought a new stake in BlackRock MuniYield Quality Fund III in the 4th quarter worth approximately $69,000. Finally, Comerica Bank raised its holdings in shares of BlackRock MuniYield Quality Fund III by 22,586.2% during the 4th quarter. Comerica Bank now owns 6,579 shares of the investment management company’s stock worth $72,000 after acquiring an additional 6,550 shares in the last quarter. 34.01% of the stock is owned by institutional investors.

About BlackRock MuniYield Quality Fund III

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.