BlackRock Municipal Income Quality Trust (NYSE:BYM) Shares Cross Above 50-Day Moving Average – Time to Sell?

BlackRock Municipal Income Quality Trust (NYSE:BYM)’s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $11.01 and traded as high as $11.09. BlackRock Municipal Income Quality Trust shares last traded at $11.0450, with a volume of 64,067 shares changing hands.

BlackRock Municipal Income Quality Trust Stock Performance

The firm’s 50-day simple moving average is $11.01 and its two-hundred day simple moving average is $10.93.

BlackRock Municipal Income Quality Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 6th were issued a dividend of $0.0555 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%.

Institutional Trading of BlackRock Municipal Income Quality Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BYM. Sit Investment Associates Inc. increased its holdings in shares of BlackRock Municipal Income Quality Trust by 63.1% in the fourth quarter. Sit Investment Associates Inc. now owns 168,352 shares of the company’s stock valued at $1,842,000 after purchasing an additional 65,160 shares during the period. Rivernorth Capital Management LLC boosted its position in BlackRock Municipal Income Quality Trust by 0.9% in the fourth quarter. Rivernorth Capital Management LLC now owns 888,486 shares of the company’s stock valued at $9,720,000 after buying an additional 8,294 shares during the last quarter. Osaic Holdings Inc. increased its holdings in BlackRock Municipal Income Quality Trust by 17.8% in the 4th quarter. Osaic Holdings Inc. now owns 29,348 shares of the company’s stock worth $321,000 after buying an additional 4,435 shares during the period. Royal Bank of Canada raised its position in BlackRock Municipal Income Quality Trust by 25.9% during the 4th quarter. Royal Bank of Canada now owns 48,558 shares of the company’s stock worth $531,000 after buying an additional 9,984 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in BlackRock Municipal Income Quality Trust during the 4th quarter valued at approximately $77,000.

About BlackRock Municipal Income Quality Trust

BlackRock Municipal Income Quality Trust (NYSE:BYM) is a non-diversified, closed-end management investment company that primarily invests in investment grade municipal debt obligations. The trust’s objective is to provide current income exempt from federal income taxes, with a secondary emphasis on preserving capital. It achieves this by allocating its assets among a diversified portfolio of municipal bonds, variable rate demand notes and other municipal-related securities issued by U.S. state and local governments and their agencies.

Managed by BlackRock Fund Advisors, part of BlackRock, Inc, BYM leverages the firm’s extensive municipal bond research and credit analysis capabilities.