BlackRock Municipal Income Quality Trust (NYSE:BYM) Sees Significant Decrease in Short Interest

BlackRock Municipal Income Quality Trust (NYSE:BYM) saw a large drop in short interest in November. As of November 30th, there was short interest totalling 10,700 shares, a drop of 54.1% from the November 15th total of 23,300 shares. Based on an average daily trading volume, of 61,800 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On BlackRock Municipal Income Quality Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rosenberg Matthew Hamilton purchased a new stake in shares of BlackRock Municipal Income Quality Trust during the 2nd quarter worth $83,000. Americana Partners LLC increased its position in BlackRock Municipal Income Quality Trust by 17.0% during the 2nd quarter. Americana Partners LLC now owns 1,597,561 shares of the company’s stock valued at $18,308,000 after buying an additional 232,481 shares in the last quarter. Rothschild Investment LLC purchased a new stake in BlackRock Municipal Income Quality Trust in the second quarter valued at about $68,000. Rinkey Investments boosted its holdings in BlackRock Municipal Income Quality Trust by 46.9% in the second quarter. Rinkey Investments now owns 44,500 shares of the company’s stock worth $510,000 after acquiring an additional 14,200 shares in the last quarter. Finally, Allegheny Financial Group LTD grew its stake in shares of BlackRock Municipal Income Quality Trust by 15.5% during the second quarter. Allegheny Financial Group LTD now owns 175,377 shares of the company’s stock worth $2,010,000 after acquiring an additional 23,486 shares during the last quarter.

BlackRock Municipal Income Quality Trust Stock Performance

Shares of BlackRock Municipal Income Quality Trust stock traded down $0.16 on Friday, hitting $11.42. 116,938 shares of the company traded hands, compared to its average volume of 57,245. BlackRock Municipal Income Quality Trust has a 52 week low of $10.78 and a 52 week high of $12.38. The stock’s 50 day moving average price is $11.61 and its 200-day moving average price is $11.66.

BlackRock Municipal Income Quality Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.0555 dividend. This represents a $0.67 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend is Monday, December 16th.

About BlackRock Municipal Income Quality Trust

BlackRock Municipal Income Quality Trust is a closed-ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in the fixed income markets of the United States. It primarily invests in investment grade municipal bonds exempt from federal income taxes, including the alternative minimum tax.