BlackRock MuniYield New York Quality Fund (NYSE:MYN) Share Price Crosses Above 50-Day Moving Average – Here’s Why

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $9.95 and traded as high as $10.04. BlackRock MuniYield New York Quality Fund shares last traded at $10.03, with a volume of 147,837 shares traded.

BlackRock MuniYield New York Quality Fund Stock Performance

The stock’s 50 day moving average price is $9.95 and its two-hundred day moving average price is $9.96.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a dividend of $0.0512 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 6.1%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. lifted its position in shares of BlackRock MuniYield New York Quality Fund by 44.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 538,416 shares of the investment management company’s stock valued at $5,336,000 after acquiring an additional 164,844 shares during the period. City of London Investment Management Co. Ltd. purchased a new stake in shares of BlackRock MuniYield New York Quality Fund during the 3rd quarter worth approximately $1,120,000. Fiera Capital Corp acquired a new stake in shares of BlackRock MuniYield New York Quality Fund in the 4th quarter worth approximately $2,856,000. TrueMark Investments LLC acquired a new stake in shares of BlackRock MuniYield New York Quality Fund in the 1st quarter worth approximately $399,000. Finally, Focused Wealth Management Inc purchased a new position in BlackRock MuniYield New York Quality Fund in the 1st quarter valued at approximately $1,777,000. 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.