BlackRock MuniYield New York Quality Fund (NYSE:MYN) Sees Unusually-High Trading Volume – Here’s What Happened

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) saw an uptick in trading volume on Monday. Approximately 450,113 shares were traded during trading, an increase of 121% from the previous session’s volume of 203,415 shares. The stock last traded at $8.9450 and had previously closed at $8.94.

BlackRock MuniYield New York Quality Fund Stock Performance

The stock has a fifty day moving average price of $9.18 and a 200 day moving average price of $9.68.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be paid a dividend of $0.0512 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 6.8%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Rivernorth Capital Management LLC raised its stake in BlackRock MuniYield New York Quality Fund by 411.5% during the 1st quarter. Rivernorth Capital Management LLC now owns 1,722,732 shares of the investment management company’s stock worth $16,538,000 after buying an additional 1,385,904 shares during the period. Bank of America Corp DE boosted its holdings in 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 valued at $15,799,000 after acquiring an additional 938,369 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of BlackRock MuniYield New York Quality Fund by 81.9% in the first 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 last quarter. Cetera Investment Advisers increased its stake 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 acquiring an additional 292,427 shares in the last quarter. Finally, Whitebox Advisors LLC purchased a new stake in shares of BlackRock MuniYield New York Quality Fund during the first quarter valued at approximately $2,627,000. Institutional investors and hedge funds own 29.32% of the company’s stock.

BlackRock MuniYield New York Quality Fund Company Profile

BlackRock MuniYield New York Quality Fund, Inc (NYSE: MYN) is a closed-end investment company that seeks to provide current income that is exempt from regular federal income taxes and New York State and New York City personal income taxes. The fund is designed for investors seeking tax-advantaged income through a professionally managed portfolio of municipal securities.

The fund invests primarily in long-term municipal obligations issued by or on behalf of municipalities and other public authorities in New York.