BlackRock MuniYield New York Quality Fund, Inc. $MYN Shares Sold by Tortoise Investment Management LLC

Key Points

• Tortoise Investment Management LLC reduced its holdings in BlackRock MuniYield New York Quality Fund by 79.7%, owning only 10,475 shares after selling 41,150 shares.
• Other institutional investors, including Bank of America Corp DE and Raymond James Financial Inc., have also modified their positions in the fund, indicating interest from the hedge fund sector.
• The BlackRock MuniYield New York Quality Fund recently declared a monthly dividend of $0.0512 per share, with a yield of 6.6%.

Tortoise Investment Management LLC reduced its position in BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN - Free Report) by 79.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,475 shares of the investment management company's stock after selling 41,150 shares during the quarter. Tortoise Investment Management LLC's holdings in BlackRock MuniYield New York Quality Fund were worth $104,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Breakwater Capital Group increased its stake in shares of BlackRock MuniYield New York Quality Fund by 16.8% in the 1st quarter. Breakwater Capital Group now owns 64,693 shares of the investment management company's stock worth $642,000 after acquiring an additional 9,316 shares during the last quarter. Landscape Capital Management L.L.C. boosted its stake in BlackRock MuniYield New York Quality Fund by 75.8% during the first quarter. Landscape Capital Management L.L.C. now owns 21,899 shares of the investment management company's stock worth $217,000 after buying an additional 9,443 shares during the period. Joel Isaacson & Co. LLC boosted its position in shares of BlackRock MuniYield New York Quality Fund by 44.4% during the 1st quarter. Joel Isaacson & Co. LLC now owns 32,896 shares of the investment management company's stock worth $327,000 after purchasing an additional 10,111 shares during the period. Citadel Advisors LLC purchased a new position in shares of BlackRock MuniYield New York Quality Fund during the 4th quarter worth approximately $106,000. Finally, Sequoia Financial Advisors LLC acquired a new position in BlackRock MuniYield New York Quality Fund in the 1st quarter valued at about $106,000. 29.32% of the stock is owned by institutional investors and hedge funds.

BlackRock MuniYield New York Quality Fund Stock Performance

NYSE MYN traded up $0.04 during trading on Friday, hitting $9.30. The stock had a trading volume of 56,651 shares, compared to its average volume of 94,565. The firm has a 50 day moving average price of $9.36 and a 200 day moving average price of $9.62. BlackRock MuniYield New York Quality Fund, Inc. has a twelve month low of $9.12 and a twelve month high of $10.87.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The business also recently disclosed 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. This represents a c) annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Friday, August 15th.

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.