BlackRock MuniYield Quality Fund III (NYSE:MYI) Sees Unusually-High Trading Volume – Should You Buy?

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) saw unusually-strong trading volume on Thursday . 583,750 shares changed hands during trading, an increase of 107% from the previous session’s volume of 281,435 shares.The stock last traded at $9.6950 and had previously closed at $9.81.

BlackRock MuniYield Quality Fund III Stock Up 0.1%

The business has a 50 day simple moving average of $10.61 and a 200-day simple moving average of $10.79.

BlackRock MuniYield Quality Fund III Announces Dividend

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

Institutional Trading of BlackRock MuniYield Quality Fund III

Institutional investors and hedge funds have recently made changes to their positions in the company. Rivernorth Capital Management LLC raised its position in shares of BlackRock MuniYield Quality Fund III by 200.0% in the 1st quarter. Rivernorth Capital Management LLC now owns 5,254,333 shares of the investment management company’s stock worth $55,223,000 after buying an additional 3,502,884 shares during the period. Bank of America Corp DE acquired a new position in BlackRock MuniYield Quality Fund III in the second quarter valued at $16,031,000. Van ECK Associates Corp grew its position in BlackRock MuniYield Quality Fund III by 2.6% during the second quarter. Van ECK Associates Corp now owns 973,208 shares of the investment management company’s stock valued at $10,812,000 after acquiring an additional 24,636 shares during the period. Allspring Global Investments Holdings LLC increased its stake in BlackRock MuniYield Quality Fund III by 298.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 537,780 shares of the investment management company’s stock worth $5,652,000 after acquiring an additional 402,688 shares during the last quarter. Finally, Rareview Capital LLC increased its stake in BlackRock MuniYield Quality Fund III by 22.1% during the first quarter. Rareview Capital LLC now owns 461,043 shares of the investment management company’s stock worth $4,836,000 after acquiring an additional 83,565 shares during the last quarter. 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 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.