BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) Sees Large Decline in Short Interest

Key Points

• BlackRock MuniYield New York Quality Fund (NYSE:MYN) experienced a significant decline in short interest, dropping 36.1% to 63,900 shares as of August 31.
• The fund recently announced a monthly dividend of $0.0512, payable on October 1, representing an annualized yield of 6.2%.
• 29.32% of the fund's stock is currently owned by institutional investors, with Bank of America Corp DE increasing its holdings by 16.1% in the last quarter.

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN - ) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 63,900 shares, a decline of 36.1% from the August 15th total of 100,000 shares. Based on an average daily volume of 96,500 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.2% of the company's stock are short sold. Currently, 0.2% of the company's stock are short sold. Based on an average daily volume of 96,500 shares, the days-to-cover ratio is currently 0.7 days.

BlackRock MuniYield New York Quality Fund Stock Down 0.3%

NYSE MYN opened at $9.84 on Monday. BlackRock MuniYield New York Quality Fund has a 1-year low of $9.12 and a 1-year high of $10.87. The firm's fifty day simple moving average is $9.37 and its 200-day simple moving average is $9.57.

BlackRock MuniYield New York Quality Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a $0.0512 dividend. The ex-dividend date is Monday, September 15th. This represents a c) dividend on an annualized basis and a yield of 6.2%.

Institutional Investors Weigh In On BlackRock MuniYield New York Quality Fund

Large investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its holdings in BlackRock MuniYield New York Quality Fund by 16.1% in the fourth quarter. Bank of America Corp DE now owns 562,629 shares of the investment management company's stock worth $5,671,000 after purchasing an additional 77,915 shares in the last quarter. Cetera Investment Advisers bought a new stake in BlackRock MuniYield New York Quality Fund during the first quarter valued at about $780,000. Mackay Shields LLC boosted its holdings in BlackRock MuniYield New York Quality Fund by 22.3% during the first quarter. Mackay Shields LLC now owns 1,146,355 shares of the investment management company's stock valued at $11,383,000 after acquiring an additional 208,831 shares during the period. Dakota Wealth Management bought a new stake in BlackRock MuniYield New York Quality Fund during the first quarter valued at about $337,000. Finally, Quantum Financial Planning Services Inc. bought a new stake in BlackRock MuniYield New York Quality Fund during the first quarter valued at about $120,000. 29.32% of the stock is currently owned by institutional investors.

About BlackRock MuniYield New York Quality Fund

BlackRock MuniYield 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 a portfolio of long-term investment grade municipal bonds exempt from federal income taxes and New York State and New York City personal income taxes.

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