BlackRock MuniYield New York Quality Fund (NYSE:MYN) Sees Large Volume Increase – Should You Buy?

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN – Get Free Report) shares saw unusually-high trading volume on Wednesday. Approximately 332,295 shares traded hands during mid-day 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 Price Performance

The stock has a 50-day simple moving average of $9.33 and a 200-day simple moving average of $9.72.

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BlackRock MuniYield New York Quality Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be given a dividend of $0.0512 per share. This represents a $0.61 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, December 11th.

Hedge Funds Weigh In On BlackRock MuniYield New York Quality Fund

Several large investors have recently added to or reduced their stakes in the company. CoreCap Advisors LLC acquired a new stake in shares of BlackRock MuniYield New York Quality Fund during the 3rd quarter worth approximately $26,000. Western Wealth Management LLC acquired a new position in BlackRock MuniYield New York Quality Fund during the 1st quarter valued at approximately $89,000. Meeder Advisory Services Inc. acquired a new position in BlackRock MuniYield New York Quality Fund during the 1st quarter valued at approximately $122,000. Janney Montgomery Scott LLC grew its stake in BlackRock MuniYield New York Quality Fund by 41.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 15,851 shares of the investment management company’s stock worth $152,000 after buying an additional 4,661 shares during the last quarter. Finally, Readystate Asset Management LP bought a new position in BlackRock MuniYield New York Quality Fund during the 2nd quarter worth $188,000. 29.32% of the stock is currently owned by institutional investors.

BlackRock MuniYield New York Quality Fund Company Profile

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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.

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