BlackRock MuniYield New York Quality Fund (NYSE:MYN) Shares Cross Below 200 Day Moving Average – Here’s Why

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN)’s share price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-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 trading hands.

BlackRock MuniYield New York Quality Fund Trading Down 0.2%

The company’s fifty day simple moving average is $9.60 and its 200-day simple moving average is $9.82.

BlackRock MuniYield New York Quality Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be paid a dividend of $0.0512 per share. The ex-dividend date is Friday, December 11th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 6.9%.

Hedge Funds Weigh In On BlackRock MuniYield New York Quality Fund

Large investors have recently bought and sold shares of the business. Rivernorth Capital Management LLC lifted its holdings in BlackRock MuniYield New York Quality Fund by 411.5% during the first quarter. Rivernorth Capital Management LLC now owns 1,722,732 shares of the investment management company’s stock worth $16,538,000 after buying an additional 1,385,904 shares during the period. Bank of America Corp DE increased its holdings in shares of BlackRock MuniYield New York Quality Fund by 132.7% in the 1st 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 during the period. Allspring Global Investments Holdings LLC increased 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 valued at $11,890,000 after acquiring an additional 557,751 shares during the period. Cetera Investment Advisers raised its position in shares of BlackRock MuniYield New York Quality Fund by 504.2% in the 1st quarter. Cetera Investment Advisers now owns 350,425 shares of the investment management company’s stock worth $3,364,000 after acquiring an additional 292,427 shares in the last quarter. Finally, Fiera Capital Corp bought a new position in shares of BlackRock MuniYield New York Quality Fund in the 4th quarter worth $2,856,000. Institutional investors own 29.32% of the company’s stock.

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.