BlackRock MuniYield Quality Fund III (NYSE:MYI) Reaches New 1-Year Low – Here’s What Happened

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

BlackRock MuniYield Quality Fund III Trading Up 0.2%

The company’s fifty day simple moving average is $10.58 and its 200-day simple moving average is $10.78.

BlackRock MuniYield Quality Fund III Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be given a dividend of $0.0555 per share. This represents a $0.67 annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Friday, December 11th.

Hedge Funds Weigh In On BlackRock MuniYield Quality Fund III

A number of hedge funds have recently made changes to their positions in the company. CoreCap Advisors LLC purchased a new stake in shares of BlackRock MuniYield Quality Fund III during the second quarter worth approximately $25,000. Geneos Wealth Management Inc. purchased a new position in BlackRock MuniYield Quality Fund III in the 1st quarter valued at $42,000. EverSource Wealth Advisors LLC purchased a new position in BlackRock MuniYield Quality Fund III in the 1st quarter valued at $44,000. Fifth Third Bancorp acquired a new stake in BlackRock MuniYield Quality Fund III during the 1st quarter worth $86,000. Finally, Citizens National Bank Trust Department acquired a new stake in BlackRock MuniYield Quality Fund III during the 1st quarter worth $103,000. Institutional investors and hedge funds 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.