BlackRock MuniYield New York Quality Fund (NYSE:MYN) Sees Unusually-High Trading Volume – Time to Buy?

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) shares saw strong trading volume on Wednesday . Approximately 481,674 shares changed hands during mid-day trading, an increase of 240% from the previous session’s volume of 141,764 shares.The stock last traded at $9.69 and had previously closed at $9.80.

BlackRock MuniYield New York Quality Fund Price Performance

The stock’s fifty day moving average is $9.99 and its two-hundred day moving average is $9.96.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.0512 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 6.3%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Elyxium Wealth LLC purchased a new position in BlackRock MuniYield New York Quality Fund in the fourth quarter valued at approximately $42,000. Western Wealth Management LLC bought a new position in BlackRock MuniYield New York Quality Fund in the 1st quarter valued at $89,000. Meeder Advisory Services Inc. purchased a new position in BlackRock MuniYield New York Quality Fund during the first quarter worth about $122,000. Readystate Asset Management LP purchased a new position in shares of BlackRock MuniYield New York Quality Fund during the fourth quarter worth about $122,000. Finally, HRT Financial LP bought a new position in shares of BlackRock MuniYield New York Quality Fund in the 4th quarter worth $136,000. Hedge funds and other institutional investors own 29.32% of the company’s stock.

About BlackRock MuniYield New York Quality Fund

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.