BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) Sees Large Increase in Short Interest

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) was the target of a large increase in short interest in April. As of April 30th, there was short interest totaling 55,530 shares, an increase of 78.9% from the April 15th total of 31,032 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 138,052 shares, the days-to-cover ratio is presently 0.4 days.

BlackRock MuniYield New York Quality Fund Stock Performance

NYSE:MYN opened at $9.69 on Tuesday. BlackRock MuniYield New York Quality Fund has a fifty-two week low of $9.12 and a fifty-two week high of $10.26. The firm has a 50-day simple moving average of $9.87 and a two-hundred day simple moving average of $9.97.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The business also recently declared 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 6.3%.

Insiders Place Their Bets

In other news, Director Robert W. Fairbairn acquired 49,025 shares of BlackRock MuniYield New York Quality Fund stock in a transaction on Friday, February 27th. The stock was acquired at an average cost of $10.15 per share, for a total transaction of $497,603.75. Following the purchase, the director owned 49,025 shares in the company, valued at $497,603.75. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of BlackRock MuniYield New York Quality Fund

A number of large investors have recently made changes to their positions in MYN. Royal Bank of Canada grew its stake in shares of BlackRock MuniYield New York Quality Fund by 268.6% in the first quarter. Royal Bank of Canada now owns 274,458 shares of the investment management company’s stock worth $2,725,000 after acquiring an additional 200,000 shares during the period. Bank of America Corp DE lifted its holdings in BlackRock MuniYield New York Quality Fund by 4.3% during the second quarter. Bank of America Corp DE now owns 595,864 shares of the investment management company’s stock valued at $5,679,000 after purchasing an additional 24,406 shares in the last quarter. TrueMark Investments LLC purchased a new position in BlackRock MuniYield New York Quality Fund during the third quarter valued at approximately $422,000. Breakwater Capital Group lifted its holdings in BlackRock MuniYield New York Quality Fund by 32.0% during the third quarter. Breakwater Capital Group now owns 91,469 shares of the investment management company’s stock valued at $908,000 after purchasing an additional 22,197 shares in the last quarter. Finally, Arnhold LLC lifted its holdings in BlackRock MuniYield New York Quality Fund by 61.5% during the third quarter. Arnhold LLC now owns 26,265 shares of the investment management company’s stock valued at $261,000 after purchasing an additional 10,000 shares in the last quarter. 29.32% of the stock is currently owned by institutional investors.

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.