BlackRock MuniYield New York Quality Fund (NYSE:MYN) Reaches New 1-Year Low – What’s Next?

Shares of BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $8.69 and last traded at $8.7450, with a volume of 501437 shares traded. The stock had previously closed at $8.93.

BlackRock MuniYield New York Quality Fund Trading Up 0.7%

The business has a fifty day moving average price of $9.50 and a 200-day moving average price of $9.79.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a dividend of $0.0512 per share. This represents a $0.61 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, December 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Western Wealth Management LLC bought a new position in BlackRock MuniYield New York Quality Fund during the 1st quarter worth $89,000. Meeder Advisory Services Inc. bought a new stake in shares of BlackRock MuniYield New York Quality Fund in the first quarter valued at about $122,000. Janney Montgomery Scott LLC boosted its position in shares of BlackRock MuniYield New York Quality Fund by 41.7% in the first quarter. Janney Montgomery Scott LLC now owns 15,851 shares of the investment management company’s stock valued at $152,000 after acquiring an additional 4,661 shares during the period. Readystate Asset Management LP acquired a new position in shares of BlackRock MuniYield New York Quality Fund in the second quarter valued at about $188,000. Finally, Rockefeller Capital Management L.P. grew its stake in shares of BlackRock MuniYield New York Quality Fund by 100.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 20,000 shares of the investment management company’s stock valued at $198,000 after acquiring an additional 10,000 shares in the last quarter. 29.32% of the stock is owned by institutional investors and hedge funds.

BlackRock MuniYield New York Quality Fund Company Profile

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.