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 traded 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 Price Performance

The firm has a 50 day moving average price of $10.95 and a 200-day moving average price of $10.74.

BlackRock MuniYield Quality Fund III Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be given a $0.0555 dividend. The ex-dividend date of this dividend 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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Traub Capital Management LLC acquired a new stake in BlackRock MuniYield Quality Fund III in the second quarter valued at approximately $43,000. Geneos Wealth Management Inc. raised its holdings in shares of BlackRock MuniYield Quality Fund III by 803.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 5,053 shares of the investment management company’s stock valued at $56,000 after purchasing an additional 4,494 shares in the last quarter. Chung Wu Investment Group LLC acquired a new stake in shares of BlackRock MuniYield Quality Fund III in the 2nd quarter valued at $63,000. Prestige Wealth Management Group LLC purchased a new stake in shares of BlackRock MuniYield Quality Fund III during the 3rd quarter worth $83,000. Finally, Nomura Holdings Inc. acquired a new position in shares of BlackRock MuniYield Quality Fund III during the second quarter worth $105,000. 34.01% of the stock is owned by institutional investors and hedge funds.

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.