BlackRock MuniYield New York Quality Fund (NYSE:MYN) Hits New 52-Week Low – What’s Next?

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $9.12 and last traded at $9.13, with a volume of 37420 shares traded. The stock had previously closed at $9.21.

BlackRock MuniYield New York Quality Fund Stock Down 1.4%

The business’s fifty day moving average is $9.77 and its 200 day moving average is $9.88.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be issued a $0.0512 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a c) annualized dividend and a dividend yield of 6.8%.

Hedge Funds Weigh In On BlackRock MuniYield New York Quality Fund

A number of hedge funds have recently modified their holdings of MYN. Rivernorth Capital Management LLC raised its position in shares of BlackRock MuniYield New York Quality Fund by 411.5% during the first quarter. Rivernorth Capital Management LLC now owns 1,722,732 shares of the investment management company’s stock worth $16,538,000 after purchasing an additional 1,385,904 shares during the period. Bank of America Corp DE boosted its position in shares of 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 valued at $15,799,000 after purchasing an additional 938,369 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of 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 purchasing an additional 557,751 shares during the period. Robinson Capital Management LLC increased its stake 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 worth $10,168,000 after purchasing an additional 48,124 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in 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 worth $3,364,000 after purchasing an additional 292,427 shares in the last quarter. 29.32% of the stock is currently owned by institutional investors and hedge funds.

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.