BlackRock MuniYield Quality Fund III (NYSE:MYI) Sees Strong Trading Volume – Here’s What Happened

Shares of BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) saw strong trading volume on Thursday. Approximately 797,673 shares changed hands during mid-day trading, an increase of 147% from the previous session’s volume of 323,388 shares. The stock last traded at $9.3710 and had previously closed at $9.47.

BlackRock MuniYield Quality Fund III Trading Up 1.0%

The firm’s fifty day moving average is $10.33 and its 200 day moving average is $10.68.

BlackRock MuniYield Quality Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be given a $0.0555 dividend. This represents a $0.67 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, December 11th.

Hedge Funds Weigh In On BlackRock MuniYield Quality Fund III

A number of hedge funds and other institutional investors have recently made changes to their positions in MYI. Rivernorth Capital Management LLC increased its holdings in shares of BlackRock MuniYield Quality Fund III by 200.0% in the first quarter. Rivernorth Capital Management LLC now owns 5,254,333 shares of the investment management company’s stock worth $55,223,000 after acquiring an additional 3,502,884 shares in the last quarter. Bank of America Corp DE bought a new position in BlackRock MuniYield Quality Fund III in the second quarter valued at approximately $16,031,000. Van ECK Associates Corp increased 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 worth $10,812,000 after buying an additional 24,636 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of BlackRock MuniYield Quality Fund III by 298.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 537,780 shares of the investment management company’s stock valued at $5,652,000 after buying an additional 402,688 shares during the last quarter. Finally, Rareview Capital LLC boosted its stake in shares of BlackRock MuniYield Quality Fund III by 22.1% during the 1st 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 period. 34.01% of the stock is owned by institutional investors.

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.