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

Shares of BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) saw unusually-high trading volume on Thursday . Approximately 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 Trading Up 1.6 %

The company’s 50-day simple moving average is $11.33 and its 200 day simple moving average is $11.46.

BlackRock MuniYield Quality Fund III Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.0555 dividend. This represents a $0.67 annualized dividend and a yield of 5.99%. The ex-dividend date of this dividend is Monday, December 16th.

Institutional Trading of BlackRock MuniYield Quality Fund III

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James & Associates increased its position in BlackRock MuniYield Quality Fund III by 8.6% during the 2nd quarter. Raymond James & Associates now owns 427,081 shares of the investment management company’s stock valued at $4,775,000 after buying an additional 33,849 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of BlackRock MuniYield Quality Fund III in the 2nd quarter valued at approximately $42,000. Rothschild Investment LLC purchased a new position in shares of BlackRock MuniYield Quality Fund III in the 2nd quarter valued at approximately $252,000. Commonwealth Equity Services LLC boosted its stake in BlackRock MuniYield Quality Fund III by 30.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 73,825 shares of the investment management company’s stock worth $825,000 after purchasing an additional 17,127 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in BlackRock MuniYield Quality Fund III by 17.9% during the 2nd quarter. Van ECK Associates Corp now owns 492,047 shares of the investment management company’s stock worth $5,501,000 after purchasing an additional 74,557 shares during the last quarter. 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.