BlackRock MuniYield New York Quality Fund (NYSE:MYN) Shares Break Above 50-Day Moving Average – Should You Sell?

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN)’s stock price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $9.12 and traded as high as $9.15. BlackRock MuniYield New York Quality Fund shares last traded at $9.14, with a volume of 431,291 shares.

BlackRock MuniYield New York Quality Fund Stock Performance

The business has a 50 day simple moving average of $9.12 and a 200-day simple moving average of $9.74.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be issued a dividend of $0.0512 per share. This represents a $0.61 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend is Friday, November 13th.

Institutional Investors Weigh In On BlackRock MuniYield New York Quality Fund

A number of large investors have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC raised its holdings 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 worth $16,538,000 after acquiring an additional 1,385,904 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of BlackRock MuniYield New York Quality Fund by 132.7% in the first 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 in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in BlackRock MuniYield New York Quality Fund by 81.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,238,577 shares of the investment management company’s stock worth $11,890,000 after purchasing an additional 557,751 shares during the last quarter. Robinson Capital Management LLC increased its holdings in shares of BlackRock MuniYield New York Quality Fund by 5.0% in the second quarter. Robinson Capital Management LLC now owns 1,001,774 shares of the investment management company’s stock valued at $10,168,000 after purchasing an additional 48,124 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of BlackRock MuniYield New York Quality Fund by 504.2% in the first 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 during the period. Institutional investors own 29.32% of the company’s stock.

BlackRock MuniYield New York Quality Fund Company Profile

BlackRock MuniYield New York Quality Fund, Inc (NYSE: MYN) is a closed-end investment company that seeks to provide current income that is exempt from regular federal income taxes and New York State and New York City personal income taxes. The fund is designed for investors seeking tax-advantaged income through a professionally managed portfolio of municipal securities.

The fund invests primarily in long-term municipal obligations issued by or on behalf of municipalities and other public authorities in New York.