BlackRock MuniYield Quality Fund III (NYSE:MYI) Hits New 52-Week Low – Should You Sell?

Shares of BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI – Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as $9.91 and last traded at $9.9060, with a volume of 119162 shares traded. The stock had previously closed at $10.00.

BlackRock MuniYield Quality Fund III Trading Down 1.4%

The firm has a fifty day moving average of $10.63 and a 200-day moving average of $10.80.

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BlackRock MuniYield Quality Fund III Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be issued a $0.0555 dividend. This represents a c) annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Friday, December 11th.

Hedge Funds Weigh In On BlackRock MuniYield Quality Fund III

A number of large investors have recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in BlackRock MuniYield Quality Fund III by 58.8% in the 1st quarter. Royal Bank of Canada now owns 349,623 shares of the investment management company’s stock valued at $3,675,000 after buying an additional 129,414 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of BlackRock MuniYield Quality Fund III by 78.6% during the first quarter. Bank of America Corp DE now owns 1,173,240 shares of the investment management company’s stock worth $12,331,000 after purchasing an additional 516,460 shares during the period. Focused Wealth Management Inc bought a new stake in shares of BlackRock MuniYield Quality Fund III in the second quarter worth $1,886,000. Bank of New York Mellon Corp acquired a new stake in BlackRock MuniYield Quality Fund III in the first quarter valued at $1,021,000. Finally, Indiana Trust & Investment Management Co bought a new position in BlackRock MuniYield Quality Fund III during the 1st quarter worth $959,000. Institutional investors own 34.01% of the company’s stock.

BlackRock MuniYield Quality Fund III Company Profile

(Get Free Report)

BlackRock MuniYield Quality Fund III, Inc (NYSE: MYI) is a closed-end investment company that seeks to provide current income exempt from regular U.S. federal income tax. The fund invests primarily in a portfolio of municipal bonds and other municipal obligations issued by states, cities, counties, and related public entities.

The fund generally focuses on investment-grade municipal securities, although it may also invest in lower-rated obligations when permitted by its investment policies.

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