BlackRock MuniYield Quality Fund (NYSE:MQY) Reaches New 12-Month Low – Here’s Why

BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY) reached a new 52-week low on Wednesday . The company traded as low as $10.32 and last traded at $10.3350, with a volume of 2038403 shares. The stock had previously closed at $10.56.

BlackRock MuniYield Quality Fund Price Performance

The company’s 50-day simple moving average is $11.14 and its 200-day simple moving average is $11.30.

BlackRock MuniYield Quality Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be paid a $0.058 dividend. The ex-dividend date is Friday, December 11th. This represents a c) annualized dividend and a dividend yield of 6.6%.

Institutional Investors Weigh In On BlackRock MuniYield Quality Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new position in shares of BlackRock MuniYield Quality Fund in the 2nd quarter valued at approximately $112,000. RFG Advisory LLC acquired a new stake in shares of BlackRock MuniYield Quality Fund during the second quarter worth approximately $130,000. NewEdge Advisors LLC increased its stake in shares of BlackRock MuniYield Quality Fund by 9.3% in the second quarter. NewEdge Advisors LLC now owns 256,126 shares of the financial services provider’s stock worth $2,971,000 after buying an additional 21,891 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of BlackRock MuniYield Quality Fund by 15.3% in the second quarter. HighTower Advisors LLC now owns 157,180 shares of the financial services provider’s stock worth $1,823,000 after buying an additional 20,868 shares during the last quarter. Finally, Readystate Asset Management LP acquired a new stake in BlackRock MuniYield Quality Fund in the second quarter valued at $407,000. Hedge funds and other institutional investors own 25.51% of the company’s stock.

BlackRock MuniYield Quality Fund Company Profile

BlackRock MuniYield Quality Fund, Inc is a closed-end management investment company listed on the New York Stock Exchange under the symbol MQY. The fund seeks to provide current income that is exempt from regular U.S. federal income tax by investing primarily in a portfolio of municipal obligations issued by states, territories, municipalities and other governmental entities.

The fund generally invests in longer-term municipal bonds and may allocate assets across various sectors of the municipal market, including essential-service areas such as education, health care, transportation, utilities and public infrastructure.