BlackRock MuniYield Quality Fund III (NYSE:MYI) Sees Unusually-High Trading Volume – Time to Buy?

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) shares saw strong trading volume on Friday . 388,664 shares changed hands during mid-day trading, an increase of 97% from the previous session’s volume of 197,151 shares.The stock last traded at $10.7250 and had previously closed at $10.73.

BlackRock MuniYield Quality Fund III Stock Performance

The firm has a fifty day simple moving average of $10.95 and a 200-day simple moving average of $10.74.

BlackRock MuniYield Quality Fund III Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be paid a $0.0555 dividend. The ex-dividend date is Monday, December 22nd. This represents a c) dividend on an annualized basis and a yield of 6.2%.

Hedge Funds Weigh In On BlackRock MuniYield Quality Fund III

A number of hedge funds have recently modified their holdings of MYI. Traub Capital Management LLC acquired a new position in shares of BlackRock MuniYield Quality Fund III in the 2nd quarter valued at $43,000. Geneos Wealth Management Inc. grew its position in BlackRock MuniYield Quality Fund III by 803.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,053 shares of the investment management company’s stock worth $56,000 after purchasing an additional 4,494 shares during the last quarter. Chung Wu Investment Group LLC acquired a new position in BlackRock MuniYield Quality Fund III in the second quarter valued at $63,000. Prestige Wealth Management Group LLC acquired a new position in BlackRock MuniYield Quality Fund III in the third quarter valued at $83,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of BlackRock MuniYield Quality Fund III in the second quarter valued at about $105,000. 34.01% of the stock is currently owned by hedge funds and other institutional investors.

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.