BlackRock Municipal Income Quality Trust (NYSE:BYM) Stock Passes Above 50-Day Moving Average – Should You Sell?

BlackRock Municipal Income Quality Trust (NYSE:BYM)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $11.01 and traded as high as $11.09. BlackRock Municipal Income Quality Trust shares last traded at $11.0450, with a volume of 64,067 shares.

BlackRock Municipal Income Quality Trust Price Performance

The stock has a fifty day moving average price of $11.02 and a two-hundred day moving average price of $10.93.

BlackRock Municipal Income Quality Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 6th were issued a dividend of $0.0555 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Friday, February 6th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BYM. Advisory Services Network LLC acquired a new stake in BlackRock Municipal Income Quality Trust during the third quarter worth about $30,000. Financial Gravity Companies Inc. acquired a new stake in shares of BlackRock Municipal Income Quality Trust during the 2nd quarter worth approximately $35,000. Elyxium Wealth LLC acquired a new stake in shares of BlackRock Municipal Income Quality Trust during the 4th quarter worth approximately $43,000. Noble Wealth Management PBC lifted its holdings in shares of BlackRock Municipal Income Quality Trust by 127.3% in the 4th quarter. Noble Wealth Management PBC now owns 6,250 shares of the company’s stock worth $68,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in BlackRock Municipal Income Quality Trust during the 4th quarter valued at approximately $77,000.

About BlackRock Municipal Income Quality Trust

BlackRock Municipal Income Quality Trust (NYSE:BYM) is a non-diversified, closed-end management investment company that primarily invests in investment grade municipal debt obligations. The trust’s objective is to provide current income exempt from federal income taxes, with a secondary emphasis on preserving capital. It achieves this by allocating its assets among a diversified portfolio of municipal bonds, variable rate demand notes and other municipal-related securities issued by U.S. state and local governments and their agencies.

Managed by BlackRock Fund Advisors, part of BlackRock, Inc, BYM leverages the firm’s extensive municipal bond research and credit analysis capabilities.