BlackRock MuniYield Quality Fund III (NYSE:MYI) Reaches New 1-Year Low – Here’s Why

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI)’s stock price reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $9.42 and last traded at $9.4350, with a volume of 450616 shares. The stock had previously closed at $9.64.

BlackRock MuniYield Quality Fund III Stock Performance

The company’s 50 day moving average is $10.40 and its 200 day moving average is $10.71.

BlackRock MuniYield Quality Fund III Announces Dividend

The company 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 dividend of $0.0555 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.67 annualized dividend and a yield of 7.1%.

Institutional Trading of BlackRock MuniYield Quality Fund III

A number of large investors have recently bought and sold shares of the business. CoreCap Advisors LLC purchased a new stake in shares of BlackRock MuniYield Quality Fund III in the second quarter valued at about $25,000. Geneos Wealth Management Inc. purchased a new position in shares of BlackRock MuniYield Quality Fund III in the 1st quarter valued at approximately $42,000. EverSource Wealth Advisors LLC acquired a new position in shares of BlackRock MuniYield Quality Fund III in the first quarter valued at approximately $44,000. Fifth Third Bancorp purchased a new stake in shares of BlackRock MuniYield Quality Fund III during the first quarter worth approximately $86,000. Finally, Citizens National Bank Trust Department purchased a new position in BlackRock MuniYield Quality Fund III in the 1st quarter valued at $103,000. Institutional investors and hedge funds 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 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.