BlackRock MuniYield New York Quality Fund (NYSE:MYN) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• BlackRock MuniYield New York Quality Fund shares have recently crossed above their 200-day moving average, with a current trading price of $9.84 and a recent high of $9.87.
• The fund has announced a monthly dividend of $0.0512 per share with a dividend yield of 6.2%, payable on October 1st to shareholders of record on September 15th.
• Institutional investments in the fund have increased, with significant increases in stakes from firms like Steward Partners and Landscape Capital Management, indicating growing confidence in the fund.

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN - )'s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $9.56 and traded as high as $9.87. BlackRock MuniYield New York Quality Fund shares last traded at $9.84, with a volume of 43,843 shares traded.

BlackRock MuniYield New York Quality Fund Trading Up 0.2%

The stock's 50-day simple moving average is $9.46 and its 200-day simple moving average is $9.56.

BlackRock MuniYield New York Quality Fund Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MYN. Steward Partners Investment Advisory LLC lifted its stake in BlackRock MuniYield New York Quality Fund by 22.8% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 7,000 shares of the investment management company's stock valued at $67,000 after purchasing an additional 1,300 shares during the last quarter. Wolverine Asset Management LLC bought a new position in BlackRock MuniYield New York Quality Fund in the 2nd quarter valued at approximately $27,000. Breakwater Capital Group lifted its stake in BlackRock MuniYield New York Quality Fund by 7.1% in the 2nd quarter. Breakwater Capital Group now owns 69,272 shares of the investment management company's stock valued at $660,000 after purchasing an additional 4,579 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co lifted its stake in BlackRock MuniYield New York Quality Fund by 9.7% in the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 70,785 shares of the investment management company's stock valued at $675,000 after purchasing an additional 6,285 shares during the last quarter. Finally, Landscape Capital Management L.L.C. lifted its stake in BlackRock MuniYield New York Quality Fund by 75.8% in the 1st quarter. Landscape Capital Management L.L.C. now owns 21,899 shares of the investment management company's stock valued at $217,000 after purchasing an additional 9,443 shares during the last quarter. Institutional investors and hedge funds own 29.32% of the company's stock.

BlackRock MuniYield New York Quality Fund Company Profile

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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