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

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

Insider Buying and Selling

In related news, Director Robert W. Fairbairn bought 49,025 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average cost of $10.15 per share, with a total value of $497,603.75. Following the purchase, the director directly owned 49,025 shares of the company’s stock, valued at $497,603.75. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. United Financial Planning Group LLC acquired a new position in shares of BlackRock MuniYield New York Quality Fund during the 3rd quarter worth about $35,000. Elyxium Wealth LLC acquired a new stake in shares of BlackRock MuniYield New York Quality Fund in the 4th quarter valued at about $42,000. Fort Point Capital Partners LLC acquired a new stake in shares of BlackRock MuniYield New York Quality Fund in the 3rd quarter valued at about $101,000. Readystate Asset Management LP acquired a new stake in shares of BlackRock MuniYield New York Quality Fund in the 4th quarter valued at about $122,000. Finally, Meeder Advisory Services Inc. acquired a new stake in shares of BlackRock MuniYield New York Quality Fund in the 1st quarter valued at about $122,000. 29.32% of the stock is owned by institutional investors and hedge funds.

BlackRock MuniYield New York Quality Fund Stock Up 0.1%

NYSE:MYN opened at $9.80 on Monday. The stock has a 50-day simple moving average of $9.88 and a 200-day simple moving average of $9.97. BlackRock MuniYield New York Quality Fund has a 1 year low of $9.12 and a 1 year high of $10.26.

BlackRock MuniYield New York Quality Fund Announces Dividend

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 given a dividend of $0.0512 per share. This represents a c) annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Monday, June 15th.

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.