BlackRock MuniYield New York Quality Fund (NYSE:MYN) Share Price Crosses Above 50-Day Moving Average – Here’s Why

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN)’s stock price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $9.95 and traded as high as $10.04. BlackRock MuniYield New York Quality Fund shares last traded at $10.03, with a volume of 147,837 shares changing hands.

BlackRock MuniYield New York Quality Fund Stock Performance

The stock’s 50-day simple moving average is $9.95 and its 200 day simple moving average is $9.96.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.0512 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 6.1%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MYN. Hennion & Walsh Asset Management Inc. increased its position in BlackRock MuniYield New York Quality Fund by 44.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 538,416 shares of the investment management company’s stock worth $5,336,000 after purchasing an additional 164,844 shares during the period. City of London Investment Management Co. Ltd. acquired a new stake in shares of BlackRock MuniYield New York Quality Fund in the 3rd quarter valued at approximately $1,120,000. Fiera Capital Corp purchased a new stake in shares of BlackRock MuniYield New York Quality Fund in the fourth quarter valued at approximately $2,856,000. TrueMark Investments LLC purchased a new stake in shares of BlackRock MuniYield New York Quality Fund in the first quarter valued at approximately $399,000. Finally, Focused Wealth Management Inc purchased a new stake in shares of BlackRock MuniYield New York Quality Fund in the first quarter valued at approximately $1,777,000. 29.32% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniYield New York Quality Fund Company Profile

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.