BlackRock Municipal Income Quality Trust (NYSE:BYM) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Shares of BlackRock Municipal Income Quality Trust (NYSE:BYM) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $10.98 and traded as low as $10.83. BlackRock Municipal Income Quality Trust shares last traded at $10.83, with a volume of 63,990 shares.

BlackRock Municipal Income Quality Trust Stock Performance

The firm has a 50 day moving average price of $10.98 and a 200-day moving average price of $10.67.

BlackRock Municipal Income Quality Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.0555 dividend. This represents a c) annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Friday, November 14th.

Institutional Investors Weigh In On BlackRock Municipal Income Quality Trust

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ackerman Capital Advisors LLC lifted its holdings in BlackRock Municipal Income Quality Trust by 83.8% in the first quarter. Ackerman Capital Advisors LLC now owns 30,730 shares of the company’s stock valued at $331,000 after buying an additional 14,010 shares during the period. HighTower Advisors LLC bought a new stake in shares of BlackRock Municipal Income Quality Trust during the 1st quarter valued at $203,000. Sit Investment Associates Inc. lifted its stake in shares of BlackRock Municipal Income Quality Trust by 349.6% in the 1st quarter. Sit Investment Associates Inc. now owns 64,522 shares of the company’s stock valued at $696,000 after purchasing an additional 50,171 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of BlackRock Municipal Income Quality Trust by 136.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 20,299 shares of the company’s stock worth $219,000 after purchasing an additional 11,705 shares during the last quarter. Finally, Comerica Bank grew its stake in shares of BlackRock Municipal Income Quality Trust by 27.8% during the first quarter. Comerica Bank now owns 53,421 shares of the company’s stock worth $576,000 after purchasing an additional 11,624 shares during the period.

About BlackRock Municipal Income Quality Trust

BlackRock Municipal Income Quality Trust is a closed-ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in the fixed income markets of the United States. It primarily invests in investment grade municipal bonds exempt from federal income taxes, including the alternative minimum tax.