BlackRock MuniHoldings New York Quality Fund (NYSE:MHN) Stock Price Passes Below Two Hundred Day Moving Average - Here's Why

Key Points

• Shares of BlackRock MuniHoldings New York Quality Fund (NYSE:MHN) fell below its two hundred day moving average, trading as low as $9.41, with its last trading price at $9.45.
• The fund recently announced a dividend of $0.0515 per share, set to be paid on August 1st, representing an annualized dividend of $0.62 and a yield of 6.54%.
• Institutional investors increased their stakes in the fund, with Guggenheim Capital and Bank of America Corp DE making significant purchases in the previous quarters.

Shares of BlackRock MuniHoldings New York Quality Fund, Inc. (NYSE:MHN - ) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.04 and traded as low as $9.41. BlackRock MuniHoldings New York Quality Fund shares last traded at $9.45, with a volume of 119,610 shares traded.

BlackRock MuniHoldings New York Quality Fund Trading Down 0.3%

The business's fifty day moving average is $9.72 and its 200 day moving average is $10.04.

BlackRock MuniHoldings New York Quality Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be paid a dividend of $0.0515 per share. The ex-dividend date is Tuesday, July 15th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 6.54%.

Institutional Investors Weigh In On BlackRock MuniHoldings New York Quality Fund

A number of institutional investors and hedge funds have recently made changes to their positions in MHN. Guggenheim Capital LLC lifted its stake in BlackRock MuniHoldings New York Quality Fund by 4.9% in the fourth quarter. Guggenheim Capital LLC now owns 619,360 shares of the financial services provider's stock valued at $6,404,000 after acquiring an additional 28,694 shares during the last quarter. Bank of America Corp DE lifted its stake in BlackRock MuniHoldings New York Quality Fund by 49.9% in the 4th quarter. Bank of America Corp DE now owns 442,732 shares of the financial services provider's stock valued at $4,578,000 after purchasing an additional 147,361 shares during the last quarter. Royal Bank of Canada grew its holdings in BlackRock MuniHoldings New York Quality Fund by 7.2% during the first quarter. Royal Bank of Canada now owns 247,041 shares of the financial services provider's stock worth $2,508,000 after purchasing an additional 16,600 shares during the period. Raymond James Financial Inc. bought a new position in shares of BlackRock MuniHoldings New York Quality Fund during the 4th quarter worth approximately $1,058,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of BlackRock MuniHoldings New York Quality Fund by 32.6% in the first quarter. PNC Financial Services Group Inc. now owns 98,763 shares of the financial services provider's stock valued at $1,002,000 after purchasing an additional 24,300 shares during the last quarter. Institutional investors own 28.22% of the company's stock.

About BlackRock MuniHoldings New York Quality Fund

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.

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