BlackRock MuniYield New York Quality Fund (NYSE:MYN) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.96 and traded as low as $9.92. BlackRock MuniYield New York Quality Fund shares last traded at $9.9660, with a volume of 90,386 shares traded.

BlackRock MuniYield New York Quality Fund Stock Performance

The firm has a 50-day simple moving average of $9.85 and a 200 day simple moving average of $9.96.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a dividend of $0.0512 per share. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%.

Insider Activity at BlackRock MuniYield New York Quality Fund

In other BlackRock MuniYield New York Quality Fund news, Director Robert W. Fairbairn purchased 49,025 shares of BlackRock MuniYield New York Quality Fund stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average price of $10.15 per share, for a total transaction of $497,603.75. Following the transaction, the director directly owned 49,025 shares in the company, valued at $497,603.75. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. WNY Asset Management LLC purchased a new stake in shares of BlackRock MuniYield New York Quality Fund in the first quarter valued at about $1,249,000. Western Wealth Management LLC acquired a new stake in shares of BlackRock MuniYield New York Quality Fund during the first quarter worth about $89,000. Bank of America Corp DE grew its holdings in shares of BlackRock MuniYield New York Quality Fund by 132.7% during the first quarter. Bank of America Corp DE now owns 1,645,711 shares of the investment management company’s stock worth $15,799,000 after buying an additional 938,369 shares during the last quarter. Rivernorth Capital Management LLC increased its position in 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 valued at $16,538,000 after acquiring an additional 1,385,904 shares during the period. Finally, Royal Bank of Canada increased its position in BlackRock MuniYield New York Quality Fund by 188.4% in the 1st quarter. Royal Bank of Canada now owns 233,743 shares of the investment management company’s stock valued at $2,244,000 after acquiring an additional 152,703 shares during the period. 29.32% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniYield New York Quality Fund Company 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.