BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) Sees Large Drop in Short Interest

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 207,300 shares, a decrease of 35.5% from the September 30th total of 321,173 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 537,571 shares, the short-interest ratio is currently 0.4 days.

BlackRock MuniYield New York Quality Fund Trading Up 0.4%

Shares of NYSE:MYN opened at $9.20 on Wednesday. The firm’s 50 day simple moving average is $9.09 and its 200 day simple moving average is $9.73. BlackRock MuniYield New York Quality Fund has a fifty-two week low of $8.58 and a fifty-two week high of $10.22.

BlackRock MuniYield New York Quality Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be issued a dividend of $0.0512 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date is Friday, November 13th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MYN. Lido Advisors LLC raised its position in shares of BlackRock MuniYield New York Quality Fund by 70.6% in the 1st quarter. Lido Advisors LLC now owns 291,732 shares of the investment management company’s stock worth $2,816,000 after buying an additional 120,743 shares during the period. Royal Bank of Canada lifted its position in BlackRock MuniYield New York Quality Fund by 188.4% during the first quarter. Royal Bank of Canada now owns 233,743 shares of the investment management company’s stock valued at $2,244,000 after buying an additional 152,703 shares in the last quarter. Whitebox Advisors LLC purchased a new stake in BlackRock MuniYield New York Quality Fund during the first quarter worth approximately $2,627,000. WNY Asset Management LLC acquired a new stake in shares of BlackRock MuniYield New York Quality Fund in the first quarter worth $1,249,000. Finally, Bank of America Corp DE raised its stake in shares of 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 valued at $15,799,000 after acquiring an additional 938,369 shares during the period. 29.32% of the stock is owned by institutional investors.

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.