BlackRock MuniYield New York Quality Fund (NYSE:MYN) Hits New 1-Year Low – What’s Next?

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

BlackRock MuniYield New York Quality Fund Stock Performance

The firm has a 50 day moving average of $9.64 and a 200-day moving average of $9.84.

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 c) annualized dividend and a yield of 6.9%.

Hedge Funds Weigh In On BlackRock MuniYield New York Quality Fund

Large investors have recently made changes to their positions in the company. W.G. Shaheen & Associates DBA Whitney & Co raised its position in BlackRock MuniYield New York Quality Fund by 5.6% in the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 56,785 shares of the investment management company’s stock valued at $545,000 after buying an additional 3,000 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in BlackRock MuniYield New York Quality Fund by 41.7% during the first quarter. Janney Montgomery Scott LLC now owns 15,851 shares of the investment management company’s stock valued at $152,000 after purchasing an additional 4,661 shares during the last quarter. Arnhold LLC boosted its holdings in shares of BlackRock MuniYield New York Quality Fund by 19.0% in the 4th quarter. Arnhold LLC now owns 31,265 shares of the investment management company’s stock valued at $310,000 after buying an additional 5,000 shares during the last quarter. Western Wealth Management LLC acquired a new stake in BlackRock MuniYield New York Quality Fund in the first quarter valued at $89,000. Finally, PFG Investments LLC grew its holdings in BlackRock MuniYield New York Quality Fund by 83.7% during the first quarter. PFG Investments LLC now owns 21,207 shares of the investment management company’s stock worth $204,000 after purchasing an additional 9,663 shares during the period. Institutional investors and hedge funds own 29.32% of the company’s stock.

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.