BlackRock MuniYield New York Quality Fund (NYSE:MYN) Stock Passes Below 200 Day Moving Average – Here’s Why

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.97 and traded as low as $9.86. BlackRock MuniYield New York Quality Fund shares last traded at $9.8950, with a volume of 266,128 shares.

BlackRock MuniYield New York Quality Fund Stock Down 0.9%

The company has a 50 day moving average of $10.01 and a 200 day moving average of $9.97.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a dividend of $0.0512 per share. This represents a c) dividend on an annualized basis and a yield of 6.2%. The ex-dividend date is Tuesday, September 15th.

Institutional Investors Weigh In On BlackRock MuniYield New York Quality Fund

Several institutional investors have recently modified their holdings of MYN. Elyxium Wealth LLC acquired a new position in BlackRock MuniYield New York Quality Fund in the fourth quarter valued at approximately $42,000. Western Wealth Management LLC purchased a new position in shares of BlackRock MuniYield New York Quality Fund during the first quarter worth approximately $89,000. Meeder Advisory Services Inc. acquired a new position in shares of BlackRock MuniYield New York Quality Fund in the 1st quarter valued at $122,000. Readystate Asset Management LP acquired a new position in shares of BlackRock MuniYield New York Quality Fund in the 4th quarter valued at $122,000. Finally, HRT Financial LP acquired a new position in shares of BlackRock MuniYield New York Quality Fund in the 4th quarter valued at $136,000. 29.32% of the stock is owned by hedge funds and other institutional investors.

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.