BlackRock MuniYield New York Quality Fund (NYSE:MYN) Reaches New 52-Week High – Should You Buy?

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) shares reached a new 52-week high on Wednesday . The company traded as high as $10.80 and last traded at $9.67, with a volume of 321 shares. The stock had previously closed at $9.66.

BlackRock MuniYield New York Quality Fund Stock Up 0.1%

The business’s fifty day moving average is $9.86 and its 200 day moving average is $9.97.

BlackRock MuniYield New York Quality Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a dividend of $0.0512 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%.

Insider Activity at BlackRock MuniYield New York Quality Fund

In related news, Director Robert W. Fairbairn purchased 49,025 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average price of $10.15 per share, for a total transaction of $497,603.75. Following the transaction, the director directly owned 49,025 shares of the company’s stock, valued at $497,603.75. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackRock MuniYield New York Quality Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in MYN. Rivernorth Capital Management LLC raised its holdings in BlackRock MuniYield New York Quality Fund by 411.5% during 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 buying an additional 1,385,904 shares in the last quarter. Bank of America Corp DE boosted its stake 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 purchasing an additional 938,369 shares during the period. Allspring Global Investments Holdings LLC increased its position in BlackRock MuniYield New York Quality Fund by 81.9% during 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 acquiring an additional 557,751 shares during the period. Guggenheim Capital LLC grew its position in BlackRock MuniYield New York Quality Fund by 2.5% during the fourth quarter. Guggenheim Capital LLC now owns 729,795 shares of the investment management company’s stock worth $7,232,000 after buying an additional 18,086 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in BlackRock MuniYield New York Quality Fund by 44.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 538,416 shares of the investment management company’s stock valued at $5,336,000 after acquiring an additional 164,844 shares during the period. 29.32% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniYield New York Quality Fund Company Profile

BlackRock MuniYield New York Quality Fund (NYSE: MYN) is a diversified, closed-end management investment company that seeks to deliver current income exempt from federal and New York State income taxes. The fund primarily invests in a portfolio of municipal securities, with an emphasis on investment-grade obligations issued by entities located within New York State.

The fund’s investment strategy focuses on long-term, tax-exempt income by allocating assets to general obligation bonds, revenue bonds, and other municipal debt instruments rated in the upper tiers of the major credit rating agencies.