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

Shares of BlackRock Municipal Income Quality Trust (NYSE:BYM) crossed 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 trading hands.

BlackRock Municipal Income Quality Trust Trading Down 0.6%

The firm has a 50-day simple moving average of $11.01 and a 200-day simple moving average of $10.93.

BlackRock Municipal Income Quality Trust Announces Dividend

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

Hedge Funds Weigh In On BlackRock Municipal Income Quality Trust

Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC purchased a new stake in shares of BlackRock Municipal Income Quality Trust during the 3rd quarter valued at $30,000. Financial Gravity Companies Inc. acquired a new position in BlackRock Municipal Income Quality Trust during the 2nd quarter valued at about $35,000. Elyxium Wealth LLC purchased a new stake in BlackRock Municipal Income Quality Trust in the fourth quarter valued at about $43,000. Noble Wealth Management PBC boosted its holdings in BlackRock Municipal Income Quality Trust by 127.3% in the fourth quarter. Noble Wealth Management PBC now owns 6,250 shares of the company’s stock worth $68,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of BlackRock Municipal Income Quality Trust during the fourth quarter worth about $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.