BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) Sees Large Increase in Short Interest
BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI) experienced a significant increase in short interest, rising 101.4% to 125,700 shares as of March 31. This represents 0.2% of the company's shares sold short, with a short-interest ratio of 0.6 days based on an average daily volume of 218,500 shares. Additionally, several institutional investors have increased their stakes in the fund. The company also announced a monthly dividend of $0.0555, payable on May 1, with an annualized yield of 6.39%.
BlackRock MuniYield Quality Fund III, Inc. (NYSE:MYI - Get Free Report) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 125,700 shares, a growth of 101.4% from the March 15th total of 62,400 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 218,500 shares, the days-to-cover ratio is presently 0.6 days.
Institutional Investors Weigh In On BlackRock MuniYield Quality Fund III
Several institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in shares of BlackRock MuniYield Quality Fund III in the fourth quarter valued at about $9,107,000. Stifel Financial Corp lifted its position in shares of BlackRock MuniYield Quality Fund III by 80.1% during the 4th quarter. Stifel Financial Corp now owns 1,122,786 shares of the investment management company's stock valued at $12,396,000 after acquiring an additional 499,426 shares during the period. Pathstone Holdings LLC lifted its position in shares of BlackRock MuniYield Quality Fund III by 25.3% during the 4th quarter. Pathstone Holdings LLC now owns 995,957 shares of the investment management company's stock valued at $11,046,000 after acquiring an additional 201,347 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in shares of BlackRock MuniYield Quality Fund III by 8.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,073,688 shares of the investment management company's stock worth $11,854,000 after acquiring an additional 86,787 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in shares of BlackRock MuniYield Quality Fund III in the 4th quarter worth approximately $699,000. 34.01% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock MuniYield Quality Fund III Stock Performance
Shares of MYI stock traded down $0.03 during trading hours on Wednesday, reaching $10.42. 73,688 shares of the company's stock were exchanged, compared to its average volume of 230,320. The company's 50 day moving average is $10.96 and its two-hundred day moving average is $11.21. BlackRock MuniYield Quality Fund III has a 1 year low of $9.98 and a 1 year high of $12.07.
BlackRock MuniYield Quality Fund III Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a $0.0555 dividend. This represents a $0.67 annualized dividend and a yield of 6.39%. The ex-dividend date of this dividend is Tuesday, April 15th.
BlackRock MuniYield Quality Fund III Company Profile
(Get Free Report)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.
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