BlackRock Municipal Income Quality Trust (NYSE:BYM) Short Interest Up 10.6% in July

BlackRock Municipal Income Quality Trust (NYSE:BYM) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 39,600 shares, a growth of 10.6% from the June 30th total of 35,800 shares. Based on an average trading volume of 56,400 shares, the days-to-cover ratio is presently 0.7 days.

BlackRock Municipal Income Quality Trust Trading Up 1.4 %

Shares of BYM stock traded up $0.16 on Wednesday, reaching $11.83. The company’s stock had a trading volume of 44,141 shares, compared to its average volume of 55,808. The stock’s fifty day simple moving average is $11.40 and its 200-day simple moving average is $11.33. BlackRock Municipal Income Quality Trust has a 1 year low of $9.30 and a 1 year high of $12.03.

BlackRock Municipal Income Quality Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be paid a dividend of $0.0525 per share. This is a positive change from BlackRock Municipal Income Quality Trust’s previous monthly dividend of $0.05. This represents a $0.63 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date of this dividend is Monday, July 15th.

Hedge Funds Weigh In On BlackRock Municipal Income Quality Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates grew its stake in BlackRock Municipal Income Quality Trust by 6.2% during the 4th quarter. Raymond James & Associates now owns 35,813 shares of the company’s stock worth $401,000 after buying an additional 2,084 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in BlackRock Municipal Income Quality Trust by 12.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 22,127 shares of the company’s stock valued at $248,000 after purchasing an additional 2,431 shares during the period. Van ECK Associates Corp boosted its stake in shares of BlackRock Municipal Income Quality Trust by 2.2% in the first quarter. Van ECK Associates Corp now owns 198,524 shares of the company’s stock worth $2,303,000 after buying an additional 4,247 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of BlackRock Municipal Income Quality Trust during the 2nd quarter worth approximately $68,000. Finally, Rosenberg Matthew Hamilton purchased a new position in BlackRock Municipal Income Quality Trust in the second quarter valued at $83,000.

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.