BlackRock MuniYield Quality Fund III (NYSE:MYI) Sees Large Volume Increase – Here’s Why

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) shares saw unusually-strong trading volume on Thursday. 1,182,326 shares changed hands during mid-day trading, an increase of 239% from the previous session’s volume of 348,735 shares. The stock last traded at $9.62 and had previously closed at $9.52.

BlackRock MuniYield Quality Fund III Stock Up 0.8%

The business’s 50 day simple moving average is $10.22 and its 200-day simple moving average is $10.65.

BlackRock MuniYield Quality Fund III Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be given a dividend of $0.0555 per share. The ex-dividend date is Friday, December 11th. This represents a $0.67 annualized dividend and a dividend yield of 6.8%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. David J Yvars Group bought a new stake in BlackRock MuniYield Quality Fund III in the third quarter valued at about $144,000. Farther Finance Advisors LLC lifted its stake in BlackRock MuniYield Quality Fund III by 69.4% in the third quarter. Farther Finance Advisors LLC now owns 9,762 shares of the investment management company’s stock valued at $94,000 after buying an additional 4,000 shares during the period. Eastern Bank lifted its stake in BlackRock MuniYield Quality Fund III by 21.4% in the third quarter. Eastern Bank now owns 56,635 shares of the investment management company’s stock valued at $545,000 after buying an additional 10,000 shares during the period. Noble Wealth Management PBC boosted its holdings in BlackRock MuniYield Quality Fund III by 1.8% during the third quarter. Noble Wealth Management PBC now owns 63,620 shares of the investment management company’s stock worth $613,000 after buying an additional 1,148 shares during the last quarter. Finally, Corient Private Wealth LP bought a new position in BlackRock MuniYield Quality Fund III during the second quarter worth about $157,000. 34.01% of the stock is currently 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.