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

BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY) saw unusually-high trading volume on Thursday. Approximately 2,221,571 shares changed hands during trading, an increase of 369% from the previous session’s volume of 473,437 shares. The stock last traded at $9.8250 and had previously closed at $9.79.

BlackRock MuniYield Quality Fund Price Performance

The company’s 50 day simple moving average is $10.70 and its two-hundred day simple moving average is $11.14.

BlackRock MuniYield Quality Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be issued a dividend of $0.0580 per share. This represents a $0.70 annualized dividend and a dividend yield of 7.0%. The ex-dividend date is Friday, December 11th.

Institutional Trading of BlackRock MuniYield Quality Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Rivernorth Capital Management LLC lifted its stake in shares of BlackRock MuniYield Quality Fund by 223.8% in the 1st quarter. Rivernorth Capital Management LLC now owns 7,899,355 shares of the financial services provider’s stock valued at $86,735,000 after purchasing an additional 5,459,910 shares during the last quarter. Bank of America Corp DE acquired a new position in BlackRock MuniYield Quality Fund during the second quarter worth $21,090,000. Van ECK Associates Corp raised its holdings in BlackRock MuniYield Quality Fund by 2.6% during the second quarter. Van ECK Associates Corp now owns 1,194,747 shares of the financial services provider’s stock valued at $13,859,000 after buying an additional 30,234 shares in the last quarter. Rareview Capital LLC bought a new position in BlackRock MuniYield Quality Fund during the first quarter valued at about $4,930,000. Finally, Cetera Investment Advisers raised its holdings in BlackRock MuniYield Quality Fund by 500.5% during the first quarter. Cetera Investment Advisers now owns 313,561 shares of the financial services provider’s stock valued at $3,443,000 after buying an additional 261,344 shares in the last quarter. 25.51% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock MuniYield Quality Fund Company Profile

BlackRock MuniYield Quality Fund, Inc (NYSE: MQY) is a closed-end investment fund managed by BlackRock Advisors, LLC. The fund seeks to provide current income that is exempt from regular U.S. 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 governmental entities throughout the United States. Its portfolio may include general obligation bonds, revenue bonds, and other tax-exempt securities used to finance public infrastructure and services.

As a national municipal bond fund, BlackRock MuniYield Quality Fund generally invests across multiple U.S.