BlackRock MuniHoldings New York Quality Fund (NYSE:MHN) Stock Price Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• The stock price of BlackRock MuniHoldings New York Quality Fund (NYSE:MHN) has crossed below its 200-day moving average, trading at $9.60 compared to the average of $9.93.
• A monthly dividend of $0.0515 has been announced, providing an annualized yield of 6.4%, with payment scheduled for September 2nd to shareholders of record on August 15th.
• Several institutional investors have increased their stakes in the fund, with notable increases of 44.7% by Raymond James Financial and 117.8% by Steward Partners Investment Advisory during the second quarter.

BlackRock MuniHoldings New York Quality Fund, Inc. (NYSE:MHN - Get Free Report) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.93 and traded as low as $9.60. BlackRock MuniHoldings New York Quality Fund shares last traded at $9.60, with a volume of 41,704 shares trading hands.

BlackRock MuniHoldings New York Quality Fund Stock Performance

The firm's 50-day simple moving average is $9.65 and its 200 day simple moving average is $9.91.

BlackRock MuniHoldings New York Quality Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be given a dividend of $0.0515 per share. This represents a c) annualized dividend and a yield of 6.4%. The ex-dividend date is Friday, August 15th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its position in BlackRock MuniHoldings New York Quality Fund by 117.8% during the second quarter. Steward Partners Investment Advisory LLC now owns 5,695 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 3,080 shares in the last quarter. Envestnet Asset Management Inc. raised its position in BlackRock MuniHoldings New York Quality Fund by 32.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 15,679 shares of the financial services provider's stock valued at $162,000 after purchasing an additional 3,810 shares in the last quarter. Wellspring Financial Advisors LLC raised its position in BlackRock MuniHoldings New York Quality Fund by 15.7% during the second quarter. Wellspring Financial Advisors LLC now owns 23,569 shares of the financial services provider's stock valued at $231,000 after purchasing an additional 3,200 shares in the last quarter. Bridgewater Advisors Inc. bought a new stake in shares of BlackRock MuniHoldings New York Quality Fund during the second quarter worth $299,000. Finally, Cetera Investment Advisers grew its stake in shares of BlackRock MuniHoldings New York Quality Fund by 19.2% during the second quarter. Cetera Investment Advisers now owns 91,813 shares of the financial services provider's stock worth $902,000 after buying an additional 14,763 shares during the last quarter. 28.22% of the stock is currently owned by institutional investors and hedge funds.

BlackRock MuniHoldings New York Quality Fund Company Profile

BlackRock MuniHoldings New York Quality Fund, Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade New York municipal obligations exempt from federal income taxes and New York State and New York City personal income taxes.