BlackRock MuniYield New York Quality Fund (NYSE:MYN) Sees Large Volume Increase – Here’s What Happened

Shares of BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) saw unusually-strong trading volume on Wednesday. 332,295 shares changed hands during trading, an increase of 82% from the previous session’s volume of 182,538 shares. The stock last traded at $8.73 and had previously closed at $8.78.

BlackRock MuniYield New York Quality Fund Trading Up 1.5%

The stock has a fifty day moving average of $9.29 and a two-hundred day moving average of $9.71.

BlackRock MuniYield New York Quality Fund Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Rivernorth Capital Management LLC boosted its stake in shares of BlackRock MuniYield New York Quality Fund by 411.5% in the 1st quarter. Rivernorth Capital Management LLC now owns 1,722,732 shares of the investment management company’s stock valued at $16,538,000 after purchasing an additional 1,385,904 shares in the last quarter. Bank of America Corp DE raised its position in BlackRock MuniYield New York Quality Fund by 132.7% in 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 BlackRock MuniYield New York Quality Fund by 81.9% in 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. Robinson Capital Management LLC raised its position in BlackRock MuniYield New York Quality Fund by 5.0% in the 2nd quarter. Robinson Capital Management LLC now owns 1,001,774 shares of the investment management company’s stock worth $10,168,000 after purchasing an additional 48,124 shares during the period. Finally, Cetera Investment Advisers lifted its stake in BlackRock MuniYield New York Quality Fund by 504.2% in the first 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. 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, 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.