Hennion & Walsh Asset Management Inc. has significantly increased its stake in the BlackRock Municipal Income Quality Trust (NYSE: BYM) by 65.8% during the third quarter of 2023. According to the firm’s recent filing with the Securities and Exchange Commission, Hennion & Walsh now holds a total of 551,661 shares after acquiring an additional 218,844 shares in the period, bringing the total value of its holdings to approximately $6,041,000.
Several other institutional investors have also adjusted their positions in BlackRock Municipal Income Quality Trust recently. Among these, Financial Gravity Companies Inc. purchased a new stake valued at about $35,000 in the second quarter. Caldwell Trust Co and Allworth Financial LP also acquired new stakes valued at approximately $74,000 and $103,000, respectively. Nomura Holdings Inc. and Jane Street Group LLC added positions estimated at around $106,000 and $130,000, respectively.
On Tuesday, shares of BlackRock Municipal Income Quality Trust opened at $10.91, reflecting a slight decrease of 0.2%. The trust’s 50-day moving average stands at $10.93, while its 200-day moving average is noted at $10.76. Over the past year, the stock has experienced a low of $10.06 and a high of $11.51.
About BlackRock Municipal Income Quality Trust
BlackRock Municipal Income Quality Trust is a non-diversified, closed-end management investment company focused primarily on investment-grade municipal debt obligations. The trust aims to provide current income that is exempt from federal income taxes while also emphasizing capital preservation. To achieve its objectives, BlackRock Municipal Income Quality Trust diversifies its assets across a portfolio of municipal bonds, variable rate demand notes, and other related securities issued by U.S. state and local governments and their agencies.
Managed by BlackRock Fund Advisors, a subsidiary of BlackRock, Inc., the trust benefits from the firm’s extensive research and credit analysis capabilities in the municipal bond sector.
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