BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN – Get Rating) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 29,400 shares, a growth of 63.3% from the April 30th total of 18,000 shares. Based on an average trading volume of 100,500 shares, the days-to-cover ratio is currently 0.3 days.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in shares of BlackRock MuniYield New York Quality Fund by 3.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 107,756 shares of the investment management company’s stock worth $1,518,000 after purchasing an additional 3,120 shares during the period. Guggenheim Capital LLC grew its holdings in shares of BlackRock MuniYield New York Quality Fund by 8.5% during the 3rd quarter. Guggenheim Capital LLC now owns 403,327 shares of the investment management company’s stock worth $5,562,000 after purchasing an additional 31,436 shares during the period. Lindbrook Capital LLC purchased a new position in shares of BlackRock MuniYield New York Quality Fund during the 4th quarter worth $34,000. National Asset Management Inc. grew its holdings in shares of BlackRock MuniYield New York Quality Fund by 11.6% during the 1st quarter. National Asset Management Inc. now owns 14,577 shares of the investment management company’s stock worth $177,000 after purchasing an additional 1,511 shares during the period. Finally, Chemistry Wealth Management LLC purchased a new position in BlackRock MuniYield New York Quality Fund during the 1st quarter valued at about $930,000. Institutional investors and hedge funds own 12.70% of the company’s stock.
Shares of MYN opened at $11.38 on Friday. BlackRock MuniYield New York Quality Fund has a 52-week low of $10.40 and a 52-week high of $14.67. The stock has a fifty day simple moving average of $11.24 and a two-hundred day simple moving average of $12.70.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Monday, May 16th will be issued a dividend of $0.0515 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date is Friday, May 13th.
About BlackRock MuniYield New York Quality Fund (Get Rating)
BlackRock MuniYield New York Quality Fund, Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in a portfolio of long-term investment grade municipal bonds exempt from federal income taxes and New York State and New York City personal income taxes.
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