BlackRock MuniYield New York Quality Fund (NYSE:MYN) Share Price Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• Technical signal: MYN shares crossed below their 200‑day moving average of $10.01, trading as low as $9.80 and last at $9.90 on volume of 187,874 shares.
• Dividend: The fund announced a monthly dividend of $0.0512 payable July 1 (record/ex‑dividend date June 15), implying about a 6.2% annualized yield.
• Insider and institutional activity: Director Robert W. Fairbairn bought 49,025 shares at $10.15 (~$497.6k), and hedge funds/institutions now own roughly 29.3% of the fund with several recent stake increases.

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.01 and traded as low as $9.80. BlackRock MuniYield New York Quality Fund shares last traded at $9.90, with a volume of 187,874 shares trading hands.

BlackRock MuniYield New York Quality Fund Stock Up 0.6%

The stock's fifty day moving average price is $10.03 and its 200 day moving average price is $10.01.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a $0.0512 dividend. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a yield of 6.2%.

Insider Buying and Selling

In other news, Director Robert W. Fairbairn purchased 49,025 shares of the stock in a transaction on Friday, February 27th. The shares were acquired at an average price of $10.15 per share, for a total transaction of $497,603.75. Following the completion of the transaction, the director directly owned 49,025 shares of the company's stock, valued at approximately $497,603.75. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BlackRock MuniYield New York Quality Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Fiera Capital Corp purchased a new stake in shares of BlackRock MuniYield New York Quality Fund in the 4th quarter valued at $2,856,000. Allspring Global Investments Holdings LLC raised its position in BlackRock MuniYield New York Quality Fund by 53.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 680,826 shares of the investment management company's stock worth $6,761,000 after purchasing an additional 236,616 shares during the period. Royal Bank of Canada raised its position in BlackRock MuniYield New York Quality Fund by 268.6% in the 1st quarter. Royal Bank of Canada now owns 274,458 shares of the investment management company's stock worth $2,725,000 after purchasing an additional 200,000 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in BlackRock MuniYield New York Quality Fund by 44.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 538,416 shares of the investment management company's stock worth $5,336,000 after purchasing an additional 164,844 shares during the last quarter. Finally, City of London Investment Management Co. Ltd. bought a new stake in BlackRock MuniYield New York Quality Fund in the third quarter worth $1,120,000. 29.32% of the stock is currently owned by hedge funds and other institutional investors.

About BlackRock MuniYield New York Quality Fund

BlackRock MuniYield New York Quality Fund NYSE: MYN is a diversified, closed-end management investment company that seeks to deliver current income exempt from federal and New York State income taxes. The fund primarily invests in a portfolio of municipal securities, with an emphasis on investment-grade obligations issued by entities located within New York State.

The fund’s investment strategy focuses on long-term, tax-exempt income by allocating assets to general obligation bonds, revenue bonds, and other municipal debt instruments rated in the upper tiers of the major credit rating agencies.

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