BlackRock MuniYield Quality Fund III (NYSE:MYI) Sets New 52-Week Low – Should You Sell?

Shares of BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) reached a new 52-week low during trading on Wednesday . The company traded as low as $9.94 and last traded at $10.0530, with a volume of 872490 shares changing hands. The stock had previously closed at $10.25.

BlackRock MuniYield Quality Fund III Stock Up 0.7%

The firm’s 50-day moving average price is $10.69 and its two-hundred day moving average price is $10.83.

BlackRock MuniYield Quality Fund III Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be paid a $0.0555 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a c) dividend on an annualized basis and a yield of 6.5%.

Hedge Funds Weigh In On BlackRock MuniYield Quality Fund III

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new stake in shares of BlackRock MuniYield Quality Fund III in the second quarter valued at $25,000. Geneos Wealth Management Inc. purchased a new position in shares of BlackRock MuniYield Quality Fund III during the first quarter valued at $42,000. EverSource Wealth Advisors LLC acquired a new stake in shares of BlackRock MuniYield Quality Fund III during the 1st quarter valued at $44,000. Fifth Third Bancorp purchased a new position in shares of BlackRock MuniYield Quality Fund III during the 1st quarter valued at $86,000. Finally, Citizens National Bank Trust Department purchased a new position in shares of BlackRock MuniYield Quality Fund III during the 1st quarter valued at $103,000. 34.01% of the stock is currently owned by hedge funds and other institutional investors.

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.