BlackRock MuniYield New York Quality Fund (NYSE:MYN) Shares Pass Below 200 Day Moving Average – What’s Next?

Shares of BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.96 and traded as low as $9.96. BlackRock MuniYield New York Quality Fund shares last traded at $9.9660, with a volume of 71,948 shares trading hands.

BlackRock MuniYield New York Quality Fund Price Performance

The company has a 50-day simple moving average of $9.87 and a two-hundred day simple moving average of $9.96.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a $0.0512 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 6.2%.

Institutional Trading of BlackRock MuniYield New York Quality Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. WNY Asset Management LLC bought a new stake in BlackRock MuniYield New York Quality Fund in the first quarter valued at approximately $1,249,000. Western Wealth Management LLC bought a new stake in shares of BlackRock MuniYield New York Quality Fund in the first quarter worth about $89,000. Bank of America Corp DE grew its stake in shares of BlackRock MuniYield New York Quality Fund by 132.7% in the first quarter. Bank of America Corp DE now owns 1,645,711 shares of the investment management company’s stock worth $15,799,000 after purchasing an additional 938,369 shares during the last quarter. Rivernorth Capital Management LLC grew its stake in shares of BlackRock MuniYield New York Quality Fund by 411.5% in the first quarter. Rivernorth Capital Management LLC now owns 1,722,732 shares of the investment management company’s stock worth $16,538,000 after purchasing an additional 1,385,904 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of BlackRock MuniYield New York Quality Fund by 188.4% in the first quarter. Royal Bank of Canada now owns 233,743 shares of the investment management company’s stock worth $2,244,000 after purchasing an additional 152,703 shares during the last quarter. 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.