BlackRock MuniYield Quality Fund III (NYSE:MYI) Reaches New 1-Year Low – What’s Next?

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $10.33 and last traded at $10.31, with a volume of 56405 shares trading hands. The stock had previously closed at $10.38.

BlackRock MuniYield Quality Fund III Stock Performance

The company’s 50-day moving average price is $10.79 and its 200 day moving average price is $10.87.

Institutional Trading of BlackRock MuniYield Quality Fund III

Several large investors have recently added to or reduced their stakes in the business. Rivernorth Capital Management LLC lifted its position in BlackRock MuniYield Quality Fund III by 200.0% during the first quarter. Rivernorth Capital Management LLC now owns 5,254,333 shares of the investment management company’s stock valued at $55,223,000 after purchasing an additional 3,502,884 shares in the last quarter. Bank of America Corp DE purchased a new stake in BlackRock MuniYield Quality Fund III in the second quarter worth about $16,031,000. Fiera Capital Corp purchased a new stake in BlackRock MuniYield Quality Fund III in the fourth quarter worth about $4,652,000. Allspring Global Investments Holdings LLC raised its stake 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 worth $5,652,000 after buying an additional 402,688 shares during the period. Finally, Focused Wealth Management Inc bought a new position in shares of BlackRock MuniYield Quality Fund III in the second quarter worth about $1,886,000. 34.01% of the stock is currently owned by institutional investors.

About BlackRock MuniYield Quality Fund III

BlackRock MuniYield Quality Fund III (NYSE: MYI) is a closed-end management investment company that seeks to provide investors with a high level of current income exempt from federal income tax. The fund primarily invests in a diversified portfolio of investment-grade municipal securities, including bonds, notes and other debt obligations issued by state and local governments, agencies and authorities across the United States.

In managing its portfolio, the fund generally allocates at least 80% of its total assets to investment-grade municipal debt instruments.