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

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 321,173 shares, a growth of 295.0% from the September 15th total of 81,303 shares. Based on an average trading volume of 361,863 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.3% of the shares of the stock are sold short.

Institutional Trading of BlackRock MuniYield New York Quality Fund

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lido Advisors LLC lifted its position in shares of BlackRock MuniYield New York Quality Fund by 70.6% in the first quarter. Lido Advisors LLC now owns 291,732 shares of the investment management company’s stock valued at $2,816,000 after acquiring an additional 120,743 shares in the last quarter. Royal Bank of Canada boosted 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 acquiring an additional 152,703 shares during the last quarter. Whitebox Advisors LLC purchased a new stake in shares of BlackRock MuniYield New York Quality Fund during the first quarter worth approximately $2,627,000. WNY Asset Management LLC purchased a new stake in shares of BlackRock MuniYield New York Quality Fund during the first quarter worth approximately $1,249,000. Finally, Bank of America Corp DE lifted its holdings in BlackRock MuniYield New York Quality Fund by 132.7% in the 1st quarter. Bank of America Corp DE now owns 1,645,711 shares of the investment management company’s stock valued at $15,799,000 after purchasing an additional 938,369 shares in the last quarter. Hedge funds and other institutional investors own 29.32% of the company’s stock.

BlackRock MuniYield New York Quality Fund Price Performance

Shares of NYSE MYN opened at $8.74 on Tuesday. The firm has a fifty day moving average of $9.35 and a 200 day moving average of $9.72. BlackRock MuniYield New York Quality Fund has a one year low of $8.58 and a one year high of $10.26.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be given a $0.0512 dividend. The ex-dividend date is Friday, December 11th. This represents a $0.61 annualized dividend and a dividend yield of 7.0%.

BlackRock MuniYield New York Quality Fund Company Profile

BlackRock MuniYield New York Quality Fund, Inc is a closed-end management investment company listed on the New York Stock Exchange under the symbol MYN. The fund seeks to provide current income exempt from federal income tax and New York State and New York City personal income taxes by investing primarily in municipal obligations.

The fund invests in bonds and other fixed-income securities issued by or on behalf of New York State, New York City, and related municipalities, public authorities, and governmental entities.