BlackRock MuniYield New York Quality Fund (NYSE:MYN) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• BlackRock MuniYield New York Quality Fund shares have moved above their 200-day moving average, reaching a high of $9.71 and closing at $9.65 on the trading day.
• The fund has declared a monthly dividend of $0.0512, with a record date of September 15, representing an annualized yield of 6.4%.
• Institutional investors have increased their stakes in the fund, which now has 29.32% of its shares owned by large institutional holders.

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.58 and traded as high as $9.71. BlackRock MuniYield New York Quality Fund shares last traded at $9.65, with a volume of 71,539 shares traded.

BlackRock MuniYield New York Quality Fund Stock Performance

The firm has a 50 day moving average of $9.37 and a 200-day moving average of $9.57.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The firm also recently declared 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 of this dividend is Monday, September 15th. This represents a c) dividend on an annualized basis and a yield of 6.3%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MYN. Wolverine Asset Management LLC purchased a new position in BlackRock MuniYield New York Quality Fund in the 2nd quarter worth approximately $27,000. Steward Partners Investment Advisory LLC increased 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 worth $67,000 after acquiring an additional 1,300 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in BlackRock MuniYield New York Quality Fund in the 1st quarter worth approximately $106,000. Citadel Advisors LLC bought a new stake in BlackRock MuniYield New York Quality Fund in the 4th quarter worth approximately $106,000. Finally, Quantum Financial Planning Services Inc. bought a new stake in BlackRock MuniYield New York Quality Fund in the 1st quarter worth approximately $120,000. 29.32% of the stock is owned by hedge funds and other institutional investors.

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.