BlackRock MuniHoldings New York Quality Fund, Inc. $MHN Shares Sold by AQR Arbitrage LLC

Key Points

• AQR Arbitrage LLC significantly reduced its stake in BlackRock MuniHoldings New York Quality Fund by 64.3% during the first quarter, selling over 49,000 shares and now holding approximately 27,292 shares valued at $277,000.
• In contrast, several other institutional investors, such as Envestnet Asset Management and PNC Financial Services, increased their investments in the fund, with PNC growing its holdings by 32.6% in the same quarter.
• The fund recently announced a monthly dividend of $0.0515, payable on October 1st, translating to an annual yield of 6.4%.

AQR Arbitrage LLC cut its holdings in shares of BlackRock MuniHoldings New York Quality Fund, Inc. (NYSE:MHN - Free Report) by 64.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,292 shares of the financial services provider's stock after selling 49,124 shares during the quarter. AQR Arbitrage LLC owned about 0.09% of BlackRock MuniHoldings New York Quality Fund worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its holdings in BlackRock MuniHoldings New York Quality Fund by 32.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 15,679 shares of the financial services provider's stock valued at $162,000 after acquiring an additional 3,810 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in BlackRock MuniHoldings New York Quality Fund by 32.6% in the first quarter. PNC Financial Services Group Inc. now owns 98,763 shares of the financial services provider's stock valued at $1,002,000 after buying an additional 24,300 shares during the period. Royal Bank of Canada lifted its position in BlackRock MuniHoldings New York Quality Fund by 7.2% during the first quarter. Royal Bank of Canada now owns 247,041 shares of the financial services provider's stock valued at $2,508,000 after buying an additional 16,600 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in BlackRock MuniHoldings New York Quality Fund by 49.9% during the fourth quarter. Bank of America Corp DE now owns 442,732 shares of the financial services provider's stock worth $4,578,000 after buying an additional 147,361 shares during the period. Institutional investors and hedge funds own 28.22% of the company's stock.

BlackRock MuniHoldings New York Quality Fund Stock Performance

Shares of NYSE:MHN traded up $0.04 during midday trading on Tuesday, hitting $9.96. 52,279 shares of the company's stock traded hands, compared to its average volume of 63,759. The firm's fifty day moving average price is $9.65 and its two-hundred day moving average price is $9.87. BlackRock MuniHoldings New York Quality Fund, Inc. has a twelve month low of $9.39 and a twelve month high of $11.20.

BlackRock MuniHoldings New York Quality Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a $0.0515 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a c) annualized dividend and a dividend yield of 6.2%.

BlackRock MuniHoldings New York Quality Fund Profile

BlackRock MuniHoldings 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 investment grade New York municipal obligations exempt from federal income taxes and New York State and New York City personal income taxes.