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

Key Points

• BlackRock MuniYield New York Quality Fund shares have recently crossed below their 200-day moving average of $9.66, trading at $9.26 with a volume of 117,767 shares.
• The fund has announced a monthly dividend of $0.0512, which will be paid to stockholders on September 2nd, representing a 6.6% annualized dividend yield.
• Institutional investors have increased their stakes in the fund, with various hedge funds owning approximately 29.32% of the company's stock.

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 Thursday . The stock has a 200-day moving average of $9.66 and traded as low as $9.21. BlackRock MuniYield New York Quality Fund shares last traded at $9.26, with a volume of 117,767 shares changing hands.

BlackRock MuniYield New York Quality Fund Price Performance

The company's fifty day moving average is $9.36 and its two-hundred day moving average is $9.64.

BlackRock MuniYield New York Quality Fund Dividend Announcement

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

Hedge Funds Weigh In On BlackRock MuniYield New York Quality Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC increased its stake in BlackRock MuniYield New York Quality Fund by 22.8% in the second 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 period. Wolverine Asset Management LLC acquired a new position in BlackRock MuniYield New York Quality Fund in the second quarter valued at $27,000. Breakwater Capital Group increased its stake in BlackRock MuniYield New York Quality Fund by 7.1% in the second 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 period. W.G. Shaheen & Associates DBA Whitney & Co increased its stake in BlackRock MuniYield New York Quality Fund by 9.7% in the second 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 period. Finally, Landscape Capital Management L.L.C. increased its stake in BlackRock MuniYield New York Quality Fund by 75.8% in the first 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 period. Hedge funds and other institutional investors 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.