BlackRock MuniYield New York Quality Fund (NYSE:MYN) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Shares of BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.96 and traded as low as $9.92. BlackRock MuniYield New York Quality Fund shares last traded at $9.9660, with a volume of 90,386 shares changing hands.

BlackRock MuniYield New York Quality Fund Stock Performance

The company’s 50-day moving average is $9.85 and its 200-day moving average is $9.96.

BlackRock MuniYield New York Quality Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a dividend of $0.0512 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a yield of 6.2%.

Insider Transactions at BlackRock MuniYield New York Quality Fund

In related news, Director Robert W. Fairbairn bought 49,025 shares of the stock in a transaction on Friday, February 27th. The stock was bought at an average price of $10.15 per share, with a total value of $497,603.75. Following the completion of the purchase, the director directly owned 49,025 shares in the company, valued at $497,603.75. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in BlackRock MuniYield New York Quality Fund by 11.8% during the 4th quarter. NewEdge Advisors LLC now owns 14,200 shares of the investment management company’s stock worth $141,000 after acquiring an additional 1,500 shares in the last quarter. Equitable Holdings Inc. increased its holdings in BlackRock MuniYield New York Quality Fund by 14.6% in the third quarter. Equitable Holdings Inc. now owns 15,701 shares of the investment management company’s stock valued at $156,000 after buying an additional 2,000 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co increased its holdings in shares of 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 acquiring an additional 3,000 shares during the last quarter. United Financial Planning Group LLC acquired a new stake in BlackRock MuniYield New York Quality Fund during the third quarter worth approximately $35,000. Finally, Elyxium Wealth LLC acquired a new stake in BlackRock MuniYield New York Quality Fund during the 4th quarter worth $42,000. 29.32% of the stock is currently owned by institutional investors and hedge funds.

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.