Bank of America Corp DE Increases Holdings in BlackRock MuniYield New York Quality Fund, Inc. $MYN

Key Points

• Bank of America increased its MYN stake by 132.7% in the first quarter, acquiring 938,369 additional shares for a total of 1.65 million shares valued at approximately $15.8 million.
• Other institutional investors also raised their positions, including RiverNorth Capital Management, Allspring Global Investments, Cetera Investment Advisers, and Lido Advisors. Hedge funds and other institutions collectively own 29.32% of MYN.
• MYN shares opened at $9.79, near their 50-day and 200-day moving averages, while the fund announced a monthly dividend of $0.0512 per share, representing an annualized yield of about 6.3%.

Bank of America Corp DE boosted its stake in shares of BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN - Free Report) by 132.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,645,711 shares of the investment management company's stock after buying an additional 938,369 shares during the period. Bank of America Corp DE owned 1.75% of BlackRock MuniYield New York Quality Fund worth $15,799,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MYN. Rivernorth Capital Management LLC grew its holdings in shares of BlackRock MuniYield New York Quality Fund by 411.5% in the first quarter. Rivernorth Capital Management LLC now owns 1,722,732 shares of the investment management company's stock valued at $16,538,000 after purchasing an additional 1,385,904 shares during the period. Allspring Global Investments Holdings LLC increased its stake in BlackRock MuniYield New York Quality Fund by 81.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,238,577 shares of the investment management company's stock worth $11,890,000 after acquiring an additional 557,751 shares during the last quarter. Guggenheim Capital LLC raised its position in BlackRock MuniYield New York Quality Fund by 2.5% in the fourth quarter. Guggenheim Capital LLC now owns 729,795 shares of the investment management company's stock valued at $7,232,000 after purchasing an additional 18,086 shares during the period. Cetera Investment Advisers lifted its stake in shares of BlackRock MuniYield New York Quality Fund by 504.2% in the 1st quarter. Cetera Investment Advisers now owns 350,425 shares of the investment management company's stock valued at $3,364,000 after purchasing an additional 292,427 shares during the last quarter. Finally, Lido Advisors LLC lifted its stake in shares of BlackRock MuniYield New York Quality Fund by 70.6% in the 1st quarter. Lido Advisors LLC now owns 291,732 shares of the investment management company's stock valued at $2,816,000 after purchasing an additional 120,743 shares during the last quarter. 29.32% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock MuniYield New York Quality Fund Trading Down 0.4%

Shares of MYN opened at $9.79 on Friday. The firm has a 50-day simple moving average of $9.95 and a two-hundred day simple moving average of $9.94. BlackRock MuniYield New York Quality Fund, Inc. has a 1-year low of $9.20 and a 1-year high of $10.26.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $0.0512 dividend. This represents a c) annualized dividend and a yield of 6.3%. The ex-dividend date is Tuesday, September 15th.

About BlackRock MuniYield New York Quality Fund

BlackRock MuniYield New York Quality Fund NYSE: MYN is a diversified, closed-end management investment company that seeks to deliver current income exempt from federal and New York State income taxes. The fund primarily invests in a portfolio of municipal securities, with an emphasis on investment-grade obligations issued by entities located within New York State.

The fund’s investment strategy focuses on long-term, tax-exempt income by allocating assets to general obligation bonds, revenue bonds, and other municipal debt instruments rated in the upper tiers of the major credit rating agencies.

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