Short Interest in BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) Drops By 48.6%

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 93,900 shares, a decrease of 48.6% from the September 30th total of 182,700 shares. Based on an average daily volume of 200,900 shares, the days-to-cover ratio is presently 0.5 days.

BlackRock MuniYield Quality Fund III Stock Performance

Shares of BlackRock MuniYield Quality Fund III stock traded up $0.03 on Friday, hitting $11.40. The company had a trading volume of 270,815 shares, compared to its average volume of 217,553. BlackRock MuniYield Quality Fund III has a 1 year low of $9.32 and a 1 year high of $12.07. The stock has a 50 day moving average of $11.75 and a 200-day moving average of $11.38.

BlackRock MuniYield Quality Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be given a dividend of $0.0555 per share. This represents a $0.67 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date of this dividend is Tuesday, October 15th.

Institutional Trading of BlackRock MuniYield Quality Fund III

A number of institutional investors and hedge funds have recently modified their holdings of MYI. Eastern Bank purchased a new stake in BlackRock MuniYield Quality Fund III in the third quarter worth $1,282,000. Raymond James & Associates increased its position in BlackRock MuniYield Quality Fund III by 8.6% in the second quarter. Raymond James & Associates now owns 427,081 shares of the investment management company’s stock worth $4,775,000 after buying an additional 33,849 shares during the last quarter. Callan Family Office LLC purchased a new stake in BlackRock MuniYield Quality Fund III in the second quarter worth $154,000. Hennion & Walsh Asset Management Inc. increased its position in BlackRock MuniYield Quality Fund III by 11.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 986,901 shares of the investment management company’s stock worth $11,843,000 after buying an additional 104,304 shares during the last quarter. Finally, Cambridge Trust Co. boosted its holdings in shares of BlackRock MuniYield Quality Fund III by 24.0% in the first quarter. Cambridge Trust Co. now owns 57,010 shares of the investment management company’s stock worth $653,000 after acquiring an additional 11,050 shares during the period. 34.01% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniYield Quality Fund III Company Profile

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.