BlackRock MuniYield Quality Fund (NYSE:MQY) Shares Cross Above 50-Day Moving Average – Here’s Why

BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY)’s share price crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $10.42 and traded as high as $10.50. BlackRock MuniYield Quality Fund shares last traded at $10.4850, with a volume of 862,971 shares.

BlackRock MuniYield Quality Fund Trading Up 1.1%

The company’s fifty day moving average is $10.41 and its 200-day moving average is $11.19.

BlackRock MuniYield Quality Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a $0.0580 dividend. This represents a $0.70 annualized dividend and a yield of 6.6%. The ex-dividend date is Friday, November 13th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MQY. Rivernorth Capital Management LLC boosted its holdings in 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 worth $86,735,000 after buying an additional 5,459,910 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of BlackRock MuniYield Quality Fund during the second quarter valued at approximately $21,090,000. Van ECK Associates Corp raised its holdings in shares of 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 acquiring an additional 30,234 shares during the last quarter. Rareview Capital LLC acquired a new position in shares of BlackRock MuniYield Quality Fund during the first quarter valued at approximately $4,930,000. Finally, Cetera Investment Advisers lifted its position in shares of BlackRock MuniYield Quality Fund by 500.5% in the first quarter. Cetera Investment Advisers now owns 313,561 shares of the financial services provider’s stock valued at $3,443,000 after acquiring an additional 261,344 shares in the last quarter. Hedge funds and other institutional investors own 25.51% of the company’s stock.

BlackRock MuniYield Quality Fund Company Profile

BlackRock MuniYield Quality Fund, Inc is a closed-end management investment company listed on the New York Stock Exchange under the symbol MQY. The fund is designed to provide investors with current income that is generally exempt from regular U.S. federal income tax, while also pursuing long-term capital appreciation as a secondary objective.

The fund invests primarily in a diversified portfolio of municipal obligations issued by states, cities, counties and other governmental entities in the United States and their agencies or authorities.