BlackRock MuniYield New York Quality Fund (NYSE:MYN) Shares Cross Below 200-Day Moving Average - Time to Sell?

Key Points

• BlackRock MuniYield New York Quality Fund's shares have fallen below their 200-day moving average of $9.70, trading as low as $9.41.
• The fund recently announced a monthly dividend of $0.0512, reflecting a yield of 6.5% with the ex-dividend date set for August 15th.
• Various hedge funds have acquired new stakes in the fund, with institutional investors holding approximately 29.32% of the stock.

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN - Get Free Report) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.70 and traded as low as $9.41. BlackRock MuniYield New York Quality Fund shares last traded at $9.44, with a volume of 65,969 shares traded.

BlackRock MuniYield New York Quality Fund Trading Down 0.1%

The stock has a fifty day moving average price of $9.39 and a two-hundred day moving average price of $9.69.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a $0.0512 dividend. This represents a c) dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Friday, August 15th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MYN. Mackay Shields LLC lifted its stake in BlackRock MuniYield New York Quality Fund by 2.4% in the second quarter. Mackay Shields LLC now owns 1,174,171 shares of the investment management company's stock valued at $11,190,000 after buying an additional 27,816 shares during the period. Guggenheim Capital LLC grew its stake in BlackRock MuniYield New York Quality Fund by 4.2% in the 2nd quarter. Guggenheim Capital LLC now owns 890,374 shares of the investment management company's stock valued at $8,485,000 after purchasing an additional 35,966 shares during the period. Bank of America Corp DE grew its stake in shares of BlackRock MuniYield New York Quality Fund by 4.3% during the 2nd quarter. Bank of America Corp DE now owns 595,864 shares of the investment management company's stock worth $5,679,000 after acquiring an additional 24,406 shares during the period. Royal Bank of Canada boosted its position in shares of BlackRock MuniYield New York Quality Fund by 268.6% in the first quarter. Royal Bank of Canada now owns 274,458 shares of the investment management company's stock valued at $2,725,000 after acquiring an additional 200,000 shares during the period. Finally, Cetera Investment Advisers bought a new position in shares of BlackRock MuniYield New York Quality Fund in the first quarter valued at approximately $780,000. Institutional investors own 29.32% of the company's stock.

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.