BlackRock MuniYield New York Quality Fund (NYSE:MYN) Sets New 1-Year High – Here’s What Happened

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) hit a new 52-week high during trading on Wednesday . The company traded as high as $10.80 and last traded at $9.67, with a volume of 321 shares trading hands. The stock had previously closed at $9.66.

BlackRock MuniYield New York Quality Fund Price Performance

The firm has a 50-day moving average of $9.86 and a 200 day moving average of $9.97.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.0512 dividend. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%.

Insider Activity at BlackRock MuniYield New York Quality Fund

In other BlackRock MuniYield New York Quality Fund news, Director Robert W. Fairbairn bought 49,025 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were acquired at an average cost of $10.15 per share, for a total transaction of $497,603.75. Following the transaction, the director owned 49,025 shares in the company, valued at approximately $497,603.75. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MYN. United Financial Planning Group LLC bought a new position in BlackRock MuniYield New York Quality Fund during the third quarter worth about $35,000. Elyxium Wealth LLC acquired a new position in shares of BlackRock MuniYield New York Quality Fund in the 4th quarter worth approximately $42,000. Western Wealth Management LLC acquired a new position in shares of BlackRock MuniYield New York Quality Fund in the 1st quarter worth approximately $89,000. Fort Point Capital Partners LLC bought a new position in shares of BlackRock MuniYield New York Quality Fund during the 3rd quarter worth approximately $101,000. Finally, Meeder Advisory Services Inc. bought a new position in shares of BlackRock MuniYield New York Quality Fund during the 1st quarter worth approximately $122,000. Institutional investors and hedge funds 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.