BlackRock MuniYield Quality Fund III (NYSE:MYI) Sets New 52-Week Low – Here’s What Happened

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) reached a new 52-week low on Tuesday . The company traded as low as $10.80 and last traded at $10.82, with a volume of 64032 shares trading hands. The stock had previously closed at $10.89.

BlackRock MuniYield Quality Fund III Stock Performance

The stock has a 50-day simple moving average of $11.11 and a two-hundred day simple moving average of $11.37.

BlackRock MuniYield Quality Fund III Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.0555 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.67 dividend on an annualized basis and a yield of 6.15%.

Institutional Investors Weigh In On BlackRock MuniYield Quality Fund III

A number of large investors have recently added to or reduced their stakes in the company. Stifel Financial Corp raised its position in BlackRock MuniYield Quality Fund III by 80.1% during the fourth quarter. Stifel Financial Corp now owns 1,122,786 shares of the investment management company’s stock valued at $12,396,000 after purchasing an additional 499,426 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in BlackRock MuniYield Quality Fund III by 8.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,073,688 shares of the investment management company’s stock valued at $11,854,000 after purchasing an additional 86,787 shares in the last quarter. Pathstone Holdings LLC increased its holdings in shares of BlackRock MuniYield Quality Fund III by 25.3% in the fourth quarter. Pathstone Holdings LLC now owns 995,957 shares of the investment management company’s stock worth $11,046,000 after buying an additional 201,347 shares during the period. Raymond James Financial Inc. purchased a new position in shares of BlackRock MuniYield Quality Fund III in the fourth quarter worth about $9,107,000. Finally, Van ECK Associates Corp increased its holdings in shares of BlackRock MuniYield Quality Fund III by 4.8% in the fourth quarter. Van ECK Associates Corp now owns 493,421 shares of the investment management company’s stock worth $5,447,000 after buying an additional 22,585 shares during the period. Hedge funds and other institutional investors own 34.01% of the company’s stock.

About BlackRock MuniYield Quality Fund III

BlackRock MuniYield Quality Fund III, Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in a portfolio of long-term investment-grade municipal obligations exempt from federal income taxes.