BlackRock MuniYield New York Quality Fund (NYSE:MYN) Sees Strong Trading Volume – What’s Next?

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) shares saw unusually-high trading volume on Tuesday. Approximately 729,034 shares traded hands during mid-day trading, an increase of 318% from the previous session’s volume of 174,346 shares. The stock last traded at $8.9250 and had previously closed at $8.75.

BlackRock MuniYield New York Quality Fund Price Performance

The stock has a fifty day moving average price of $9.45 and a two-hundred day moving average price of $9.76.

BlackRock MuniYield New York Quality Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be paid a dividend of $0.0512 per share. The ex-dividend date is Friday, December 11th. This represents a $0.61 annualized dividend and a yield of 6.9%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Rivernorth Capital Management LLC boosted its stake in BlackRock MuniYield New York Quality Fund by 411.5% in the first quarter. Rivernorth Capital Management LLC now owns 1,722,732 shares of the investment management company’s stock valued at $16,538,000 after acquiring an additional 1,385,904 shares during the period. Bank of America Corp DE raised its position in shares of BlackRock MuniYield New York Quality Fund by 132.7% during the 1st quarter. Bank of America Corp DE now owns 1,645,711 shares of the investment management company’s stock worth $15,799,000 after purchasing an additional 938,369 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of BlackRock MuniYield New York Quality Fund by 81.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,238,577 shares of the investment management company’s stock worth $11,890,000 after purchasing an additional 557,751 shares during the period. Cetera Investment Advisers lifted its holdings in shares of BlackRock MuniYield New York Quality Fund by 504.2% in the 1st quarter. Cetera Investment Advisers now owns 350,425 shares of the investment management company’s stock worth $3,364,000 after purchasing an additional 292,427 shares during the last quarter. Finally, Fiera Capital Corp bought a new stake in shares of BlackRock MuniYield New York Quality Fund in the 4th quarter worth approximately $2,856,000. 29.32% of the stock is currently owned by institutional investors.

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.