Royal Bank of Canada Increases Stock Position in BlackRock MuniYield New York Quality Fund, Inc. $MYN

Key Points

• Royal Bank of Canada increased its MYN position by 188.4% in the first quarter, adding 152,703 shares for a total of 233,743 shares valued at approximately $2.24 million.
• Other institutions also increased exposure, including Cetera Investment Advisers, which boosted its position by 504.2%. Institutional investors collectively own 29.32% of MYN.
• MYN traded at $9.76, near the lower end of its 12-month range, and announced a $0.0512 monthly dividend, representing an annualized yield of about 6.3%.

Royal Bank of Canada raised its stake in BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN - Free Report) by 188.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,743 shares of the investment management company's stock after acquiring an additional 152,703 shares during the period. Royal Bank of Canada owned 0.25% of BlackRock MuniYield New York Quality Fund worth $2,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of BlackRock MuniYield New York Quality Fund by 81.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,238,577 shares of the investment management company's stock valued at $11,890,000 after purchasing an additional 557,751 shares during the last quarter. Cetera Investment Advisers boosted its position 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 period. Fiera Capital Corp purchased a new position in BlackRock MuniYield New York Quality Fund during the 4th quarter worth approximately $2,856,000. Whitebox Advisors LLC acquired a new position in BlackRock MuniYield New York Quality Fund during the first quarter worth approximately $2,627,000. Finally, Focused Wealth Management Inc acquired a new position in BlackRock MuniYield New York Quality Fund during the first quarter worth approximately $1,777,000. Institutional investors and hedge funds own 29.32% of the company's stock.

BlackRock MuniYield New York Quality Fund Trading Down 0.8%

Shares of NYSE MYN opened at $9.76 on Tuesday. BlackRock MuniYield New York Quality Fund, Inc. has a twelve month low of $9.15 and a twelve month high of $10.26. The stock has a 50 day moving average of $9.97 and a two-hundred day moving average of $9.95.

BlackRock MuniYield New York Quality Fund Dividend Announcement

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

BlackRock MuniYield New York Quality Fund Profile

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.

Want to see what other hedge funds are holding MYN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN - Free Report).

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