BlackRock MuniYield New York Quality Fund (NYSE:MYN) Reaches New 12-Month High – Still a Buy?

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) shares hit a new 52-week high on Wednesday . The stock traded as high as $10.80 and last traded at $9.67, with a volume of 321 shares changing hands. The stock had previously closed at $9.66.

BlackRock MuniYield New York Quality Fund Trading Down 0.4%

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

BlackRock MuniYield New York Quality Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a $0.0512 dividend. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Monday, June 15th.

Insider Buying and Selling

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

Institutional Investors Weigh In On BlackRock MuniYield New York Quality Fund

A number of large investors have recently added to or reduced their stakes in MYN. United Financial Planning Group LLC bought a new stake in BlackRock MuniYield New York Quality Fund in the 3rd quarter worth approximately $35,000. Elyxium Wealth LLC bought a new stake in BlackRock MuniYield New York Quality Fund in the 4th quarter worth approximately $42,000. Western Wealth Management LLC bought a new stake in BlackRock MuniYield New York Quality Fund in the 1st quarter worth approximately $89,000. Fort Point Capital Partners LLC bought a new stake in BlackRock MuniYield New York Quality Fund in the 3rd quarter worth approximately $101,000. Finally, Meeder Advisory Services Inc. bought a new stake in shares of BlackRock MuniYield New York Quality Fund during the 1st quarter valued at $122,000. Institutional investors own 29.32% of the company’s stock.

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.