BlackRock MuniYield New York Quality Fund (NYSE:MYN) Sees Large Volume Increase - Here's What Happened

Key Points

• MYN trading volume surged 82% to approximately 332,295 shares, while the fund’s price fell 0.8% to $8.73 from the previous close of $8.78.
• The fund declared a monthly dividend of $0.0512 per share, equivalent to about $0.61 annually and a 7.1% yield; the ex-dividend date is December 11.
• Institutional investors and hedge funds own 29.32% of MYN, with several firms recently increasing their positions or initiating new stakes.

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN - Get Free Report) shares saw strong trading volume on Wednesday. Approximately 332,295 shares traded hands during trading, an increase of 82% from the previous session's volume of 182,538 shares. The stock last traded at $8.73 and had previously closed at $8.78.

BlackRock MuniYield New York Quality Fund Trading Down 0.8%

The company's fifty day simple moving average is $9.33 and its two-hundred day simple moving average is $9.72.

BlackRock MuniYield New York Quality Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be paid a $0.0512 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.61 dividend on an annualized basis and a yield of 7.1%.

Institutional Investors Weigh In On BlackRock MuniYield New York Quality Fund

A number of large investors have recently bought and sold shares of MYN. W.G. Shaheen & Associates DBA Whitney & Co lifted its position in shares of BlackRock MuniYield New York Quality Fund by 5.6% during the first quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 56,785 shares of the investment management company's stock worth $545,000 after purchasing an additional 3,000 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in BlackRock MuniYield New York Quality Fund during the 3rd quarter valued at $26,000. Janney Montgomery Scott LLC grew its holdings in BlackRock MuniYield New York Quality Fund by 41.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 15,851 shares of the investment management company's stock valued at $152,000 after purchasing an additional 4,661 shares in the last quarter. Western Wealth Management LLC acquired a new stake in BlackRock MuniYield New York Quality Fund during the 1st quarter valued at $89,000. Finally, PFG Investments LLC increased its stake in BlackRock MuniYield New York Quality Fund by 83.7% during the 1st quarter. PFG Investments LLC now owns 21,207 shares of the investment management company's stock worth $204,000 after buying an additional 9,663 shares during the period. Institutional investors and hedge funds own 29.32% of the company's stock.

BlackRock MuniYield New York Quality Fund Company Profile

BlackRock MuniYield New York Quality Fund, Inc is a closed-end management investment company listed on the New York Stock Exchange under the symbol MYN. The fund seeks to provide current income exempt from federal income tax and New York State and New York City personal income taxes by investing primarily in municipal obligations.

The fund invests in bonds and other fixed-income securities issued by or on behalf of New York State, New York City, and related municipalities, public authorities, and governmental entities.

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