Whitebox Advisors LLC Takes $2.63 Million Position in BlackRock MuniYield New York Quality Fund, Inc. $MYN

Key Points

• Whitebox Advisors initiated a $2.63 million position in BlackRock MuniYield New York Quality Fund, purchasing 273,687 shares, or approximately 0.29% of the fund.
• Several institutional investors increased their holdings, including Allspring Global Investments, which boosted its stake by 81.9%; institutional investors collectively own 29.32% of MYN.
• MYN recently declared a monthly dividend of $0.0512 per share, representing an annualized yield of approximately 6.3%, while shares opened at $9.76.

Whitebox Advisors LLC bought a new stake in shares of BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 273,687 shares of the investment management company's stock, valued at approximately $2,627,000. Whitebox Advisors LLC owned approximately 0.29% of BlackRock MuniYield New York Quality Fund as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Lido Advisors LLC raised its holdings in BlackRock MuniYield New York Quality Fund by 70.6% during the first quarter. Lido Advisors LLC now owns 291,732 shares of the investment management company's stock valued at $2,816,000 after acquiring an additional 120,743 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in shares of BlackRock MuniYield New York Quality Fund by 44.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 538,416 shares of the investment management company's stock valued at $5,336,000 after acquiring an additional 164,844 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of BlackRock MuniYield New York Quality Fund by 81.9% in 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 period. Focused Wealth Management Inc bought a new position in shares of BlackRock MuniYield New York Quality Fund in the first quarter worth about $1,777,000. Finally, Ascentis Independent Advisors bought a new position in shares of BlackRock MuniYield New York Quality Fund in the first quarter worth about $510,000. Institutional investors own 29.32% of the company's stock.

BlackRock MuniYield New York Quality Fund Trading Up 0.1%

NYSE:MYN opened at $9.76 on Monday. The stock 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, Inc. has a 12-month low of $9.12 and a 12-month high of $10.26.

BlackRock MuniYield New York Quality Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid 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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