Key Points
- Director Robert Fairbairn bought 49,025 shares at an average price of $10.15, a total purchase of $497,603.75, bringing his direct ownership to 49,025 shares.
- The fund declared a monthly dividend of $0.0512 per share payable July 1 with record/ex-dividend date June 15, implying about a 6.1% annualized yield.
- Institutions own roughly 29.32% of the stock, with notable activity including Royal Bank of Canada boosting its stake by 268.6% (+200,000 shares) and Guggenheim holding 890,374 shares.
BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN - Get Free Report) Director Robert Fairbairn bought 49,025 shares of BlackRock MuniYield New York Quality Fund stock in a transaction on Friday, February 27th. The stock was purchased at an average price of $10.15 per share, with a total value of $497,603.75. Following the completion of the acquisition, the director directly owned 49,025 shares of the company's stock, valued at $497,603.75. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
BlackRock MuniYield New York Quality Fund Price Performance
MYN stock opened at $10.10 on Wednesday. BlackRock MuniYield New York Quality Fund, Inc. has a one year low of $9.12 and a one year high of $10.28. The firm has a 50-day simple moving average of $10.03 and a two-hundred day simple moving average of $9.94.
BlackRock MuniYield New York Quality Fund Dividend Announcement
The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a $0.0512 dividend. 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 6.1%.
Institutional Investors Weigh In On BlackRock MuniYield New York Quality Fund
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MYN. Royal Bank of Canada boosted its holdings in BlackRock MuniYield New York Quality Fund by 268.6% in the first quarter. Royal Bank of Canada now owns 274,458 shares of the investment management company's stock worth $2,725,000 after acquiring an additional 200,000 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in shares of BlackRock MuniYield New York Quality Fund in the 2nd quarter valued at approximately $27,000. W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in BlackRock MuniYield New York Quality Fund by 9.7% in the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 70,785 shares of the investment management company's stock worth $675,000 after purchasing an additional 6,285 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in BlackRock MuniYield New York Quality Fund by 22.8% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 7,000 shares of the investment management company's stock worth $67,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Guggenheim Capital LLC grew its position in BlackRock MuniYield New York Quality Fund by 4.2% during the 2nd quarter. Guggenheim Capital LLC now owns 890,374 shares of the investment management company's stock worth $8,485,000 after purchasing an additional 35,966 shares during the last quarter. 29.32% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock MuniYield New York Quality Fund Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
