BlackRock MuniYield Quality Fund III (NYSE:MYI) Sees Large Volume Increase – Still a Buy?

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) saw an uptick in trading volume on Thursday . 422,000 shares were traded during mid-day trading, an increase of 84% from the previous session’s volume of 229,253 shares.The stock last traded at $10.92 and had previously closed at $10.98.

BlackRock MuniYield Quality Fund III Stock Down 0.6 %

The firm’s 50 day moving average price is $11.36 and its two-hundred day moving average price is $11.46.

BlackRock MuniYield Quality Fund III Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.0555 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.67 annualized dividend and a yield of 6.10%.

Hedge Funds Weigh In On BlackRock MuniYield Quality Fund III

Several large investors have recently modified their holdings of MYI. International Assets Investment Management LLC acquired a new position in shares of BlackRock MuniYield Quality Fund III in the 2nd quarter worth approximately $42,000. Larson Financial Group LLC lifted its stake in BlackRock MuniYield Quality Fund III by 238.1% during the third quarter. Larson Financial Group LLC now owns 6,085 shares of the investment management company’s stock worth $73,000 after purchasing an additional 4,285 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in shares of BlackRock MuniYield Quality Fund III during the second quarter worth $80,000. Icon Wealth Advisors LLC purchased a new position in shares of BlackRock MuniYield Quality Fund III during the third quarter worth $104,000. Finally, Cresta Advisors Ltd. acquired a new stake in shares of BlackRock MuniYield Quality Fund III in the third quarter valued at $204,000. Institutional investors and hedge funds 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.