BlackRock MuniYield New York Quality Fund (NYSE:MYN) Reaches New 1-Year Low – Time to Sell?

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $9.41 and last traded at $9.4120, with a volume of 40223 shares changing hands. The stock had previously closed at $9.47.

BlackRock MuniYield New York Quality Fund Stock Down 0.6%

The company’s fifty day moving average price is $9.85 and its 200-day moving average price is $9.91.

Institutional Trading of BlackRock MuniYield New York Quality Fund

Several institutional investors and hedge funds have recently made changes to their positions in MYN. Rivernorth Capital Management LLC grew its stake in 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 worth $16,538,000 after acquiring an additional 1,385,904 shares in the last quarter. Bank of America Corp DE grew its stake in BlackRock MuniYield New York Quality Fund by 132.7% in the first 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 last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of 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 valued at $11,890,000 after buying an additional 557,751 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in shares of BlackRock MuniYield New York Quality Fund by 2.5% in the 4th quarter. Guggenheim Capital LLC now owns 729,795 shares of the investment management company’s stock valued at $7,232,000 after buying an additional 18,086 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of BlackRock MuniYield New York Quality Fund by 504.2% during 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. 29.32% of the stock is currently owned by 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.