Rivernorth Capital Management LLC Grows Position in BlackRock MuniYield New York Quality Fund, Inc. $MYN

Key Points

• Rivernorth Capital Management increased its MYN position by 411.5% in the first quarter, adding 1.39 million shares to own 1.72 million shares worth approximately $16.5 million, or 1.83% of the fund.
• Institutional ownership changes included additional purchases by NewEdge Advisors, Equitable Holdings, W.G. Shaheen & Associates, and Janney Montgomery Scott; hedge funds and other institutions collectively own 29.32% of MYN.
• MYN opened at $9.82, within its 52-week range of $9.12 to $10.26, and declared a monthly dividend of $0.0512 per share, representing an annualized yield of approximately 6.3%.

Rivernorth Capital Management LLC raised its stake in BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN - Free Report) by 411.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,722,732 shares of the investment management company's stock after buying an additional 1,385,904 shares during the quarter. BlackRock MuniYield New York Quality Fund comprises about 0.8% of Rivernorth Capital Management LLC's portfolio, making the stock its 24th biggest holding. Rivernorth Capital Management LLC owned about 1.83% of BlackRock MuniYield New York Quality Fund worth $16,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC increased its holdings in BlackRock MuniYield New York Quality Fund by 11.8% in the 4th quarter. NewEdge Advisors LLC now owns 14,200 shares of the investment management company's stock valued at $141,000 after purchasing an additional 1,500 shares during the last quarter. Equitable Holdings Inc. lifted its stake in BlackRock MuniYield New York Quality Fund by 14.6% during the 3rd quarter. Equitable Holdings Inc. now owns 15,701 shares of the investment management company's stock worth $156,000 after acquiring an additional 2,000 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co boosted its holdings in BlackRock MuniYield New York Quality Fund by 5.6% during the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 56,785 shares of the investment management company's stock valued at $545,000 after acquiring an additional 3,000 shares during the period. Elyxium Wealth LLC acquired a new position in BlackRock MuniYield New York Quality Fund in the 4th quarter valued at about $42,000. Finally, Janney Montgomery Scott LLC increased its stake in BlackRock MuniYield New York Quality Fund by 41.7% during the first quarter. Janney Montgomery Scott LLC now owns 15,851 shares of the investment management company's stock worth $152,000 after purchasing an additional 4,661 shares during the period. 29.32% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniYield New York Quality Fund Stock Performance

Shares of MYN stock opened at $9.82 on Wednesday. BlackRock MuniYield New York Quality Fund, Inc. has a fifty-two week low of $9.12 and a fifty-two week high of $10.26. The company has a 50 day moving average price of $10.00 and a 200 day moving average price of $9.97.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.0512 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%.

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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