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

BlackRock MuniYield Quality Fund III, Inc. (NYSE: MYI – Get Rating) saw strong short-term interest growth in February. As of February 28, there were short interests totaling 79,700 shares, a growth of 260.6% from the total of 22,100 shares as of February 13. Based on an average daily trading volume of 148,100 shares, the day-to-cover ratio is currently 0.5 days.

Several hedge funds have recently increased or reduced their stake in MYI. Wells Fargo & Company MN increased its stake in shares of BlackRock MuniYield Quality Fund III by 38.2% in Q4. Wells Fargo & Company MN now owns 451,125 shares of the investment management firm worth $6,685,000 after purchasing an additional 124,794 shares in the last quarter. NewEdge Advisors LLC acquired a new equity position in BlackRock MuniYield Quality Fund III in Q4 for a value of approximately $1,676,000. Goldman Sachs Group Inc. acquired a new stock position in BlackRock MuniYield Quality Fund III in Q4 for a value of approximately $961,000. Jaffetilchin Investment Partners LLC increased its stake in shares of BlackRock MuniYield Quality Fund III by 27.8% in Q4. Jaffetilchin Investment Partners LLC now owns 21,522 shares of the investment management company worth $319,000 after buying 4,684 additional shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its equity stake in BlackRock MuniYield Quality Fund III by 4.0% in the fourth quarter. Parametric Portfolio Associates LLC now owns 3,534,459 shares of the investment management company worth $52,381,000 after purchasing an additional 136,547 shares in the last quarter. Institutional investors hold 20.68% of the company’s shares.

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Shares of MYI traded down $0.09 at midday Friday, hitting $12.82. 1,466 shares of the company were traded, against an average volume of 166,416. BlackRock MuniYield Quality Fund III has a 12-month low of $12.88 and a 12-month high of $15.19. The company’s 50-day moving average price is $13.62 and its two-hundred-day moving average price is $14.36.

The company also recently declared a monthly dividend, which will be paid on Friday, April 1. Shareholders of record on Tuesday, March 15 will receive a dividend of $0.0515 per share. The ex-dividend date is Monday, March 14. This represents a dividend of $0.62 on an annualized basis and a dividend yield of 4.82%.

About the BlackRock MuniYield Quality Fund III (Get an assessment)

BlackRock MuniYield Quality Fund III, Inc operates as a closed-end investment fund. It intends to provide shareholders with current income exempt from federal income tax, consistent with its investment policies and prudent investment management. The company was founded on April 13, 1992 and is based in Wilmington, DE.

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