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

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 - ) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

BlackRock MuniYield New York Quality Fund Price Performance

The firm's 50 day moving average price is $9.37 and its two-hundred day moving average price is $9.66.

BlackRock MuniYield New York Quality Fund Announces Dividend

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

Hedge Funds Weigh In On BlackRock MuniYield New York Quality Fund

Several large investors have recently modified their holdings of the business. Bank of America Corp DE increased its stake in shares of BlackRock MuniYield New York Quality Fund by 4.3% in the second quarter. Bank of America Corp DE now owns 595,864 shares of the investment management company's stock worth $5,679,000 after purchasing an additional 24,406 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of BlackRock MuniYield New York Quality Fund by 4.2% in the second quarter. Guggenheim Capital LLC now owns 890,374 shares of the investment management company's stock valued at $8,485,000 after acquiring an additional 35,966 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of 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 acquiring an additional 1,300 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co boosted its position in shares of 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 acquiring an additional 6,285 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in shares of BlackRock MuniYield New York Quality Fund in the second quarter valued at approximately $27,000. 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.

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