BlackRock MuniYield Quality Fund III (NYSE:MYI) Hits New 12-Month Low – Here’s What Happened

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) shares hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $9.50 and last traded at $9.58, with a volume of 1282725 shares trading hands. The stock had previously closed at $9.78.

BlackRock MuniYield Quality Fund III Trading Up 1.3%

The company’s fifty day simple moving average is $10.49 and its 200 day simple moving average is $10.74.

BlackRock MuniYield Quality Fund III Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be given a dividend of $0.0555 per share. This represents a $0.67 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Friday, December 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MYI. CoreCap Advisors LLC purchased a new position in shares of BlackRock MuniYield Quality Fund III during the second quarter worth approximately $25,000. Geneos Wealth Management Inc. purchased a new stake in shares of BlackRock MuniYield Quality Fund III in the 1st quarter valued at $42,000. EverSource Wealth Advisors LLC bought a new position in shares of BlackRock MuniYield Quality Fund III during the 1st quarter valued at $44,000. Fifth Third Bancorp bought 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 BlackRock MuniYield Quality Fund III in the 1st quarter worth $103,000. Hedge funds and other institutional investors own 34.01% of the company’s stock.

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.