BlackRock MuniYield New York Quality Fund (NYSE:MYN) Reaches New 12-Month Low – Here’s Why

Shares of BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) hit a new 52-week low during trading on Wednesday. The company traded as low as $8.90 and last traded at $8.9310, with a volume of 217686 shares trading hands. The stock had previously closed at $9.12.

BlackRock MuniYield New York Quality Fund Stock Down 0.2%

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

BlackRock MuniYield New York Quality Fund Dividend Announcement

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

Hedge Funds Weigh In On BlackRock MuniYield New York Quality Fund

Several hedge funds have recently made changes to their positions in the stock. Lido Advisors LLC increased its position in shares of BlackRock MuniYield New York Quality Fund by 70.6% during the first quarter. Lido Advisors LLC now owns 291,732 shares of the investment management company’s stock valued at $2,816,000 after buying an additional 120,743 shares during the period. Royal Bank of Canada boosted its position in shares of BlackRock MuniYield New York Quality Fund by 188.4% in the first quarter. Royal Bank of Canada now owns 233,743 shares of the investment management company’s stock valued at $2,244,000 after acquiring an additional 152,703 shares during the period. Whitebox Advisors LLC purchased a new position in BlackRock MuniYield New York Quality Fund during the first quarter valued at approximately $2,627,000. WNY Asset Management LLC purchased a new position in BlackRock MuniYield New York Quality Fund during the first quarter valued at approximately $1,249,000. Finally, Bank of America Corp DE grew its stake in BlackRock MuniYield New York Quality Fund by 132.7% during 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. 29.32% of the stock is currently owned by hedge funds and other institutional investors.

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.