BlackRock MuniYield New York Quality Fund (NYSE:MYN) Sets New 52-Week Low – Here’s Why

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN)’s stock price hit a new 52-week low during trading on Wednesday. The stock traded as low as $8.68 and last traded at $8.6990, with a volume of 176706 shares trading hands. The stock had previously closed at $8.92.

BlackRock MuniYield New York Quality Fund Stock Down 2.1%

The company has a 50-day moving average price of $9.43 and a 200 day moving average price of $9.76.

BlackRock MuniYield New York Quality Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be paid a $0.0512 dividend. This represents a $0.61 annualized dividend and a yield of 7.0%. The ex-dividend date is Friday, December 11th.

Hedge Funds Weigh In On BlackRock MuniYield New York Quality Fund

Hedge funds have recently modified their holdings of the stock. Western Wealth Management LLC purchased a new stake in shares of BlackRock MuniYield New York Quality Fund during the first quarter worth $89,000. Meeder Advisory Services Inc. acquired a new position in BlackRock MuniYield New York Quality Fund in the 1st quarter worth about $122,000. Janney Montgomery Scott LLC increased its position in BlackRock MuniYield New York Quality Fund by 41.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,851 shares of the investment management company’s stock worth $152,000 after purchasing an additional 4,661 shares during the last quarter. Readystate Asset Management LP purchased a new stake in shares of BlackRock MuniYield New York Quality Fund during the 2nd quarter worth about $188,000. Finally, Rockefeller Capital Management L.P. raised its stake in shares of BlackRock MuniYield New York Quality Fund by 100.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 20,000 shares of the investment management company’s stock worth $198,000 after purchasing an additional 10,000 shares in the last quarter. 29.32% of the stock is owned by institutional investors and hedge funds.

About BlackRock MuniYield New York Quality Fund

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.