BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) Sees Significant Decline in Short Interest

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) was the target of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 88,000 shares, a decrease of 53.9% from the December 31st total of 190,800 shares. Based on an average daily volume of 278,800 shares, the days-to-cover ratio is presently 0.3 days.

BlackRock MuniYield Quality Fund III Stock Performance

Shares of BlackRock MuniYield Quality Fund III stock traded up $0.06 on Thursday, hitting $11.14. 66,103 shares of the company’s stock traded hands, compared to its average volume of 177,814. The firm’s 50-day moving average is $11.19 and its 200 day moving average is $11.44. BlackRock MuniYield Quality Fund III has a 52-week low of $10.83 and a 52-week high of $12.07.

BlackRock MuniYield Quality Fund III Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be given a $0.0555 dividend. This represents a $0.67 annualized dividend and a dividend yield of 5.98%. The ex-dividend date of this dividend is Wednesday, January 15th.

Hedge Funds Weigh In On BlackRock MuniYield Quality Fund III

A number of hedge funds have recently bought and sold shares of MYI. Stifel Financial Corp grew its position in shares of BlackRock MuniYield Quality Fund III by 40.0% in the 3rd quarter. Stifel Financial Corp now owns 623,360 shares of the investment management company’s stock worth $7,480,000 after acquiring an additional 177,997 shares in the last quarter. Eastern Bank bought a new position in BlackRock MuniYield Quality Fund III during the third quarter worth $1,282,000. Hennion & Walsh Asset Management Inc. boosted its holdings 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 purchasing an additional 104,304 shares during the period. Scarborough Advisors LLC bought a new stake in BlackRock MuniYield Quality Fund III during the fourth quarter valued at $699,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of BlackRock MuniYield Quality Fund III during the 2nd quarter worth approximately $502,000. 34.01% of the stock is currently owned by institutional investors and hedge funds.

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.