BlackRock MuniYield Quality Fund (NYSE:MQY) Sets New 12-Month Low – Here’s Why

BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY) reached a new 52-week low on Tuesday. The company traded as low as $9.90 and last traded at $10.0370, with a volume of 1629956 shares traded. The stock had previously closed at $10.16.

BlackRock MuniYield Quality Fund Stock Performance

The firm has a 50-day moving average of $10.89 and a 200-day moving average of $11.21.

BlackRock MuniYield Quality Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be issued a dividend of $0.0580 per share. This represents a $0.70 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Friday, December 11th.

Institutional Investors Weigh In On BlackRock MuniYield Quality Fund

Several institutional investors and hedge funds have recently modified their holdings of MQY. Rivernorth Capital Management LLC boosted its position in shares of BlackRock MuniYield Quality Fund by 223.8% during the first quarter. Rivernorth Capital Management LLC now owns 7,899,355 shares of the financial services provider’s stock worth $86,735,000 after acquiring an additional 5,459,910 shares during the last quarter. Bank of America Corp DE bought a new stake in BlackRock MuniYield Quality Fund in the 2nd quarter valued at $21,090,000. Van ECK Associates Corp lifted its stake in BlackRock MuniYield Quality Fund by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 1,194,747 shares of the financial services provider’s stock worth $13,859,000 after purchasing an additional 30,234 shares in the last quarter. Rareview Capital LLC purchased a new stake in BlackRock MuniYield Quality Fund in the 1st quarter worth $4,930,000. Finally, Cetera Investment Advisers boosted its holdings in shares of BlackRock MuniYield Quality Fund by 500.5% during the 1st quarter. Cetera Investment Advisers now owns 313,561 shares of the financial services provider’s stock valued at $3,443,000 after purchasing an additional 261,344 shares during the last quarter. 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 seeks to provide current income that is exempt from regular U.S. federal income tax by investing primarily in a portfolio of municipal obligations issued by states, territories, municipalities and other governmental entities.

The fund generally invests in longer-term municipal bonds and may allocate assets across various sectors of the municipal market, including essential-service areas such as education, health care, transportation, utilities and public infrastructure.