BlackRock MuniYield New York Quality Fund (NYSE:MYN) Stock Crosses Below 200-Day Moving Average – What’s Next?

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.97 and traded as low as $9.86. BlackRock MuniYield New York Quality Fund shares last traded at $9.8950, with a volume of 266,128 shares changing hands.

BlackRock MuniYield New York Quality Fund Price Performance

The firm has a fifty day simple moving average of $10.01 and a two-hundred day simple moving average of $9.97.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.0512 per share. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Investors Weigh In On BlackRock MuniYield New York Quality Fund

Large investors have recently modified their holdings of the stock. Rivernorth Capital Management LLC grew its position in shares of BlackRock MuniYield New York Quality Fund by 411.5% during 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. Bank of America Corp DE raised its holdings in 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 worth $15,799,000 after purchasing an additional 938,369 shares during the period. Allspring Global Investments Holdings LLC lifted its position in BlackRock MuniYield New York Quality Fund by 81.9% during the first 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 purchasing an additional 557,751 shares in the last quarter. Cetera Investment Advisers lifted its position in BlackRock MuniYield New York Quality Fund by 504.2% during the first quarter. Cetera Investment Advisers now owns 350,425 shares of the investment management company’s stock valued at $3,364,000 after purchasing an additional 292,427 shares in the last quarter. Finally, Fiera Capital Corp bought a new stake in BlackRock MuniYield New York Quality Fund during the fourth quarter valued at about $2,856,000. Institutional investors own 29.32% of the company’s stock.

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.