BlackRock MuniYield Quality Fund (NYSE:MQY) Hits New 12-Month Low – Should You Sell?

BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY) hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $10.31 and last traded at $10.2680, with a volume of 130693 shares. The stock had previously closed at $10.43.

BlackRock MuniYield Quality Fund Stock Down 0.6%

The firm’s 50 day simple moving average is $11.01 and its two-hundred day simple moving average is $11.25.

BlackRock MuniYield Quality Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be issued a $0.0580 dividend. The ex-dividend date is Friday, December 11th. This represents a $0.70 annualized dividend and a yield of 6.9%.

Institutional Investors Weigh In On BlackRock MuniYield Quality Fund

A number of hedge funds have recently added to or reduced their stakes in MQY. Northwestern Mutual Wealth Management Co. raised its position in BlackRock MuniYield Quality Fund by 117.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,321 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,255 shares during the period. Allied Private Wealth LLC bought a new position in shares of BlackRock MuniYield Quality Fund during the 2nd quarter valued at approximately $25,000. World Investment Advisors grew its position in shares of BlackRock MuniYield Quality Fund by 19.3% during the 4th quarter. World Investment Advisors now owns 13,512 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 2,190 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of BlackRock MuniYield Quality Fund during the 1st quarter worth approximately $34,000. Finally, Ballast Advisors LLC purchased a new stake in shares of BlackRock MuniYield Quality Fund during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 25.51% of the company’s stock.

About BlackRock MuniYield Quality Fund

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.