BlackRock MuniYield New York Quality Fund (NYSE:MYN) Stock Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• MYN fell below its 200-day moving average: Shares traded as low as $9.03 and last changed hands at $9.15, below the 200-day average of $9.84.
• The fund declared a monthly dividend: Stockholders will receive $0.0512 per share, representing an annualized yield of approximately 6.7%, according to the article.
• Institutional ownership increased: Several major investors significantly expanded their positions, while institutions and hedge funds collectively held 29.32% of MYN’s shares.

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN - Get Free Report)'s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.84 and traded as low as $9.03. BlackRock MuniYield New York Quality Fund shares last traded at $9.15, with a volume of 231,967 shares traded.

BlackRock MuniYield New York Quality Fund Stock Performance

The stock's 50-day moving average is $9.64 and its 200-day moving average is $9.84.

BlackRock MuniYield New York Quality Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be issued a dividend of $0.0512 per share. The ex-dividend date is Friday, December 11th. This represents a c) annualized dividend and a dividend yield of 6.7%.

Institutional Trading of BlackRock MuniYield New York Quality Fund

Several large investors have recently made changes to their positions in MYN. Rivernorth Capital Management LLC lifted its holdings in shares of BlackRock MuniYield New York Quality Fund by 411.5% in the 1st quarter. Rivernorth Capital Management LLC now owns 1,722,732 shares of the investment management company's stock worth $16,538,000 after purchasing an additional 1,385,904 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of BlackRock MuniYield New York Quality Fund by 132.7% in the first quarter. Bank of America Corp DE now owns 1,645,711 shares of the investment management company's stock valued at $15,799,000 after acquiring an additional 938,369 shares in the last quarter. Allspring Global Investments Holdings LLC boosted 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 worth $11,890,000 after buying an additional 557,751 shares during the last quarter. Robinson Capital Management LLC boosted its stake in BlackRock MuniYield New York Quality Fund by 5.0% in the second quarter. Robinson Capital Management LLC now owns 1,001,774 shares of the investment management company's stock valued at $10,168,000 after acquiring an additional 48,124 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of BlackRock MuniYield New York Quality Fund by 504.2% during the 1st quarter. Cetera Investment Advisers now owns 350,425 shares of the investment management company's stock valued at $3,364,000 after buying an additional 292,427 shares during the last quarter. 29.32% of the stock is currently owned by institutional investors and hedge funds.

About BlackRock MuniYield New York Quality Fund

BlackRock MuniYield New York Quality Fund, Inc NYSE: MYN is a non-diversified, closed-end management investment company. The fund seeks to provide current income that is exempt from regular federal income tax and New York State and New York City personal income taxes, while also seeking to preserve capital.

To pursue its objective, the fund invests primarily in municipal obligations issued by or on behalf of the State of New York, its municipalities, and other public authorities. Its portfolio may include bonds financing public infrastructure and essential services, such as transportation, education, utilities, health care, and housing.

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