MYI Stock Summary and Trading Ideas (Blackrock Muniyld Quality III | NYSE:MYI)

BlackRock MuniYield Quality Fund III, Inc.’s (MYI) (the “Fund”) investment objective is to provide shareholders with as high a level of current income exempt from federal income taxes as is consistent with its investment policies and prudent investment management. The Fund seeks to achieve its investment objective by investing at least 80% of its assets in municipal obligations exempt from federal income taxes (except that the interest may be subject to the federal alternative minimum tax). Under normal market conditions, the Fund invests primarily in long-term municipal obligations that are investment grade quality at the time of investment. The Fund may invest directly in such securities or synthetically through the use of derivatives.

Blackrock Muniyld Quality III trades on the NYSE stock market under the symbol MYI.

As of April 17, 2024, MYI stock price climbed to $11.06 with 245,496 million shares trading.

MYI has a beta of 0.67, meaning it tends to be less sensitive to market movements. MYI has a correlation of 0.31 to the broad based SPY ETF.

MYI has a market cap of $735.13 million. This is considered a Small Cap stock.

In the last 3 years, MYI stock traded as high as $15.19 and as low as $9.32.

MYI has underperformed the market in the last year with a return of +4.3%, while the SPY ETF gained +23.0%. In the last 3 month period, MYI fell short of the market, returning +0.8%, while SPY returned +5.7%. However, in the most recent 2 weeks MYI has outperformed the stock market by returning -1.6%, while SPY returned -3.5%.

MYI support price is $10.93 and resistance is $11.07 (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 MYI stock will trade within this expected range on the day.