BlackRock MuniYield New York Quality Fund (NYSE:MYN) Reaches New 1-Year Low – Time to Sell?

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) shares hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $8.68 and last traded at $8.6990, with a volume of 176706 shares trading hands. The stock had previously closed at $8.92.

BlackRock MuniYield New York Quality Fund Price Performance

The business has a 50 day simple moving average of $9.39 and a 200 day simple moving average of $9.74.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Investors 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 yield of 7.1%.

Hedge Funds Weigh In On BlackRock MuniYield New York Quality Fund

A number of institutional investors have recently modified their holdings of MYN. Rivernorth Capital Management LLC increased its holdings in shares of BlackRock MuniYield New York Quality Fund by 411.5% in the first quarter. Rivernorth Capital Management LLC now owns 1,722,732 shares of the investment management company’s stock valued at $16,538,000 after purchasing an additional 1,385,904 shares in the last quarter. Bank of America Corp DE lifted its holdings in BlackRock MuniYield New York Quality Fund by 132.7% during 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 buying an additional 938,369 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in BlackRock MuniYield New York Quality Fund by 81.9% in the 1st 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 buying an additional 557,751 shares during the last quarter. Robinson Capital Management LLC boosted its position in BlackRock MuniYield New York Quality Fund by 5.0% in the 2nd quarter. Robinson Capital Management LLC now owns 1,001,774 shares of the investment management company’s stock valued at $10,168,000 after buying an additional 48,124 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of BlackRock MuniYield New York Quality Fund by 504.2% in the 1st quarter. Cetera Investment Advisers now owns 350,425 shares of the investment management company’s stock valued at $3,364,000 after buying an additional 292,427 shares during the period. 29.32% of the stock is owned by institutional investors.

BlackRock MuniYield New York Quality Fund Company Profile

BlackRock MuniYield New York Quality Fund, Inc is a closed-end management investment company listed on the New York Stock Exchange under the symbol MYN. The fund seeks to provide current income exempt from federal income tax and New York State and New York City personal income taxes by investing primarily in municipal obligations.

The fund invests in bonds and other fixed-income securities issued by or on behalf of New York State, New York City, and related municipalities, public authorities, and governmental entities.