Royal Bank of Canada lifted its stake in BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI – Free Report) by 58.8% in the first quarter, HoldingsChannel.com reports. The fund owned 349,623 shares of the investment management company’s stock after purchasing an additional 129,414 shares during the period. Royal Bank of Canada’s holdings in BlackRock MuniYield Quality Fund III were worth $3,675,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in MYI. Lido Advisors LLC bought a new position in BlackRock MuniYield Quality Fund III during the first quarter valued at approximately $707,000. Cetera Investment Advisers boosted its holdings in BlackRock MuniYield Quality Fund III by 76.2% in the first quarter. Cetera Investment Advisers now owns 39,140 shares of the investment management company’s stock worth $411,000 after purchasing an additional 16,932 shares during the last quarter. PNC Financial Services Group Inc. grew its position in BlackRock MuniYield Quality Fund III by 128.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 192,252 shares of the investment management company’s stock worth $2,021,000 after purchasing an additional 107,926 shares during the period. Hollencrest Capital Management grew its position in BlackRock MuniYield Quality Fund III by 102.1% in the 1st quarter. Hollencrest Capital Management now owns 46,276 shares of the investment management company’s stock worth $486,000 after purchasing an additional 23,380 shares during the period. Finally, Scarborough Advisors LLC grew its position in BlackRock MuniYield Quality Fund III by 168.8% in the 1st quarter. Scarborough Advisors LLC now owns 169,362 shares of the investment management company’s stock worth $1,780,000 after purchasing an additional 106,362 shares during the period. 34.01% of the stock is owned by hedge funds and other institutional investors.
BlackRock MuniYield Quality Fund III Trading Down 0.4%
Shares of MYI opened at $10.84 on Friday. The firm has a fifty day simple moving average of $10.91 and a two-hundred day simple moving average of $10.94. BlackRock MuniYield Quality Fund III, Inc. has a 1-year low of $10.35 and a 1-year high of $11.46.
BlackRock MuniYield Quality Fund III Dividend Announcement
BlackRock MuniYield Quality Fund III Company Profile
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.
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