BlackRock MuniYield Quality Fund III (NYSE:MYI) Sees Unusually-High Trading Volume – Here’s Why

Shares of BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) saw an uptick in trading volume on Wednesday. 655,815 shares traded hands during mid-day trading, an increase of 79% from the previous session’s volume of 366,875 shares. The stock last traded at $9.8270 and had previously closed at $9.91.

BlackRock MuniYield Quality Fund III Stock Performance

The company’s 50 day moving average is $10.14 and its two-hundred day moving average is $10.63.

BlackRock MuniYield Quality Fund III Dividend Announcement

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 issued a dividend of $0.0555 per share. This represents a $0.67 annualized dividend and a yield of 6.8%. The ex-dividend date is Friday, December 11th.

Hedge Funds Weigh In On BlackRock MuniYield Quality Fund III

Institutional investors and hedge funds have recently made changes to their positions in the business. Accredited Investor Services LLC bought a new stake in shares of BlackRock MuniYield Quality Fund III in the 3rd quarter worth about $100,000. David J Yvars Group purchased a new stake in shares of BlackRock MuniYield Quality Fund III during the 3rd quarter valued at about $144,000. Farther Finance Advisors LLC raised its position in shares of BlackRock MuniYield Quality Fund III by 69.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 9,762 shares of the investment management company’s stock valued at $94,000 after buying an additional 4,000 shares in the last quarter. Eastern Bank raised its position in shares of BlackRock MuniYield Quality Fund III by 21.4% during the 3rd quarter. Eastern Bank now owns 56,635 shares of the investment management company’s stock valued at $545,000 after buying an additional 10,000 shares in the last quarter. Finally, Noble Wealth Management PBC lifted its holdings in shares of BlackRock MuniYield Quality Fund III by 1.8% in the 3rd quarter. Noble Wealth Management PBC now owns 63,620 shares of the investment management company’s stock valued at $613,000 after acquiring an additional 1,148 shares during the last quarter. 34.01% of the stock is owned by hedge funds and other institutional investors.

About BlackRock MuniYield Quality Fund III

BlackRock MuniYield Quality Fund III, Inc (NYSE: MYI) is a closed-end investment company that seeks to provide current income that is exempt from regular U.S. federal income tax. The fund primarily invests in municipal obligations issued by states, territories, and local governments, as well as related public authorities.

The fund’s portfolio may include tax-exempt bonds and other municipal securities used to finance public infrastructure and services, such as schools, transportation systems, utilities, and healthcare facilities.