BYM Stock Summary and Trading Ideas (Blackrock Muni Income Quality Trust | NYSE:BYM)

BlackRock Municipal Income Quality Trust’s (BYM) (the “Trust”) investment objective is to provide current income exempt from federal income taxes, including the alternative minimum tax. The Trust seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its assets in municipal bonds exempt from federal income taxes, including the alternative minimum tax. The Trust also invests at least 80% of its assets in municipal bonds that are investment grade quality at the time of investment. The Trust may invest directly in such securities or synthetically through the use of derivatives.

Blackrock Muni Income Quality Trust trades on the NYSE stock market under the symbol BYM.

As of April 18, 2024, BYM stock price declined to $11.04 with 29,640 million shares trading.

BYM has a beta of 0.54, meaning it tends to be less sensitive to market movements. BYM has a correlation of 0.21 to the broad based SPY ETF.

BYM has a market cap of $285.97 million. This is considered a Small Cap stock.

In the last 3 years, BYM stock traded as high as $16.50 and as low as $9.33.

BYM has underperformed the market in the last year with a return of +3.3%, while the SPY ETF gained +22.2%. In the last 3 month period, BYM fell short of the market, returning +2.8%, while SPY returned +5.2%. However, in the most recent 2 weeks BYM has outperformed the stock market by returning -2.5%, while SPY returned -2.6%.

BYM support price is $11.01 and resistance is $11.17 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BYM stock will trade within this expected range on the day.