BlackRock MuniYield Quality Fund (NYSE:MQY) Sees Strong Trading Volume Following Dividend Announcement

BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY) saw strong trading volume on Thursday after the company announced a dividend. 400,544 shares traded hands during trading, an increase of 131% from the previous session’s volume of 173,146 shares.The stock last traded at $11.12 and had previously closed at $10.77.

The newly announced dividend which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 15th will be issued a $0.058 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 6.23%. The ex-dividend date is Wednesday, February 14th.

BlackRock MuniYield Quality Fund Stock Up 0.9 %

The business has a fifty day moving average price of $10.42 and a 200-day moving average price of $11.09.

Hedge Funds Weigh In On BlackRock MuniYield Quality Fund

Large investors have recently added to or reduced their stakes in the business. Morgan Stanley boosted its stake in shares of BlackRock MuniYield Quality Fund by 28.2% during the fourth quarter. Morgan Stanley now owns 3,085,559 shares of the financial services provider’s stock valued at $35,792,000 after purchasing an additional 678,472 shares during the period. Rivernorth Capital Management LLC grew its holdings in BlackRock MuniYield Quality Fund by 30.1% in the 2nd quarter. Rivernorth Capital Management LLC now owns 2,027,444 shares of the financial services provider’s stock worth $23,458,000 after acquiring an additional 468,793 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in BlackRock MuniYield Quality Fund in the 1st quarter worth $3,663,000. AQR Arbitrage LLC increased its position in shares of BlackRock MuniYield Quality Fund by 99.6% in the third quarter. AQR Arbitrage LLC now owns 421,374 shares of the financial services provider’s stock valued at $4,311,000 after acquiring an additional 210,302 shares during the period. Finally, Indiana Trust & Investment Management CO bought a new position in shares of BlackRock MuniYield Quality Fund during the third quarter valued at about $1,795,000. Hedge funds and other institutional investors own 21.94% of the company’s stock.

About BlackRock MuniYield Quality Fund

BlackRock MuniYield Quality Fund, Inc is a close 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 in long-term municipal obligations the interest on which is exempt from federal income taxes. The fund also invests in short-term securities.