BlackRock MuniYield Quality Fund III (NYSE:MYI) Hits New 12-Month Low – Time to Sell?

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) shares hit a new 52-week low on Wednesday. The stock traded as low as $9.42 and last traded at $9.4350, with a volume of 450616 shares traded. The stock had previously closed at $9.64.

BlackRock MuniYield Quality Fund III Stock Performance

The stock has a 50 day simple moving average of $10.35 and a two-hundred day simple moving average of $10.69.

BlackRock MuniYield Quality Fund III Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a dividend of $0.0555 per share. This represents a $0.67 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, December 11th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in shares of BlackRock MuniYield Quality Fund III by 58.8% during the 1st quarter. Royal Bank of Canada now owns 349,623 shares of the investment management company’s stock valued at $3,675,000 after acquiring an additional 129,414 shares during the period. Bank of America Corp DE boosted its position in BlackRock MuniYield Quality Fund III by 78.6% during the first quarter. Bank of America Corp DE now owns 1,173,240 shares of the investment management company’s stock worth $12,331,000 after purchasing an additional 516,460 shares in the last quarter. Focused Wealth Management Inc acquired a new stake in BlackRock MuniYield Quality Fund III in the second quarter valued at approximately $1,886,000. Bank of New York Mellon Corp acquired a new stake in BlackRock MuniYield Quality Fund III in the first quarter valued at approximately $1,021,000. Finally, Indiana Trust & Investment Management Co purchased a new stake in shares of BlackRock MuniYield Quality Fund III in the first quarter valued at approximately $959,000. 34.01% of the stock is 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.