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

BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 33,700 shares, a decrease of 64.1% from the October 15th total of 93,900 shares. Based on an average trading volume of 223,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of BlackRock MuniYield Quality Fund III in the 2nd quarter valued at $42,000. Larson Financial Group LLC increased its stake in BlackRock MuniYield Quality Fund III by 238.1% in the 3rd quarter. Larson Financial Group LLC now owns 6,085 shares of the investment management company’s stock valued at $73,000 after buying an additional 4,285 shares during the period. Wolverine Asset Management LLC acquired a new stake in shares of BlackRock MuniYield Quality Fund III in the 2nd quarter valued at approximately $80,000. Icon Wealth Advisors LLC acquired a new stake in shares of BlackRock MuniYield Quality Fund III during the 3rd quarter valued at approximately $104,000. Finally, Callan Family Office LLC purchased a new stake in shares of BlackRock MuniYield Quality Fund III during the 2nd quarter worth approximately $154,000. Hedge funds and other institutional investors own 34.01% of the company’s stock.

BlackRock MuniYield Quality Fund III Stock Performance

NYSE:MYI traded down $0.07 during trading hours on Friday, reaching $11.31. 111,733 shares of the company were exchanged, compared to its average volume of 222,601. The stock’s 50-day moving average is $11.68 and its 200-day moving average is $11.40. BlackRock MuniYield Quality Fund III has a twelve month low of $10.36 and a twelve month high of $12.07.

BlackRock MuniYield Quality Fund III Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a $0.0555 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.67 annualized dividend and a dividend yield of 5.89%.

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.