BlackRock MuniYield Quality Fund III (NYSE:MYI) Sees Large Volume Increase – What’s Next?

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) shares saw unusually-high trading volume on Thursday. 797,673 shares changed hands during mid-day trading, an increase of 147% from the previous session’s volume of 323,388 shares. The stock last traded at $9.3710 and had previously closed at $9.47.

BlackRock MuniYield Quality Fund III Price Performance

The firm has a 50-day simple moving average of $10.38 and a 200 day simple moving average of $10.70.

BlackRock MuniYield Quality Fund III Dividend Announcement

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 dividend of $0.0555 per share. The ex-dividend date is Friday, December 11th. This represents a $0.67 annualized dividend and a yield of 7.1%.

Institutional Investors Weigh In On BlackRock MuniYield Quality Fund III

Large investors have recently modified their holdings of the company. CoreCap Advisors LLC acquired a new stake in BlackRock MuniYield Quality Fund III during the 2nd quarter worth about $25,000. Geneos Wealth Management Inc. bought a new position in BlackRock MuniYield Quality Fund III during the first quarter worth $42,000. EverSource Wealth Advisors LLC bought a new stake in BlackRock MuniYield Quality Fund III in the first quarter valued at $44,000. Fifth Third Bancorp bought a new stake in BlackRock MuniYield Quality Fund III in the first quarter valued at $86,000. Finally, Citizens National Bank Trust Department acquired a new position in shares of BlackRock MuniYield Quality Fund III during the first quarter valued at about $103,000. 34.01% of the stock is currently owned by institutional investors and hedge funds.

About BlackRock MuniYield Quality Fund III

BlackRock MuniYield Quality Fund III, Inc (NYSE: MYI) is a closed-end municipal bond fund managed by BlackRock. The fund seeks to provide current income that is exempt from regular federal income tax, with capital appreciation as a secondary objective.

The fund invests primarily in long-term municipal obligations issued by states, municipalities and other public entities throughout the United States. Its portfolio may include bonds financing public infrastructure and essential services, such as transportation, education, health care, utilities and other government-related projects.