BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) Short Interest Up 235.8% in March

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN - Get Free Report) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 53,400 shares, a growth of 235.8% from the February 28th total of 15,900 shares. Based on an average daily volume of 111,800 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.1% of the company's stock are short sold.

BlackRock MuniYield New York Quality Fund Stock Performance

Shares of MYN traded up $0.01 during midday trading on Monday, reaching $9.93. The stock had a trading volume of 41,066 shares, compared to its average volume of 99,518. The firm has a 50 day simple moving average of $10.12 and a 200-day simple moving average of $10.33. BlackRock MuniYield New York Quality Fund has a one year low of $9.80 and a one year high of $10.87.

BlackRock MuniYield New York Quality Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.0512 dividend. This represents a $0.61 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from BlackRock MuniYield New York Quality Fund's previous monthly dividend of $0.04.

Hedge Funds 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. Allspring Global Investments Holdings LLC raised its position in shares of BlackRock MuniYield New York Quality Fund by 43.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 462,824 shares of the investment management company's stock valued at $4,665,000 after purchasing an additional 140,674 shares during the period. Bank of America Corp DE raised its holdings in BlackRock MuniYield New York Quality Fund by 16.1% in the 4th quarter. Bank of America Corp DE now owns 562,629 shares of the investment management company's stock valued at $5,671,000 after acquiring an additional 77,915 shares during the period. Guggenheim Capital LLC lifted its position in BlackRock MuniYield New York Quality Fund by 8.1% during the fourth quarter. Guggenheim Capital LLC now owns 825,819 shares of the investment management company's stock worth $8,324,000 after acquiring an additional 61,533 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of BlackRock MuniYield New York Quality Fund during the fourth quarter worth approximately $577,000. Finally, Two Sigma Securities LLC acquired a new position in shares of BlackRock MuniYield New York Quality Fund in the fourth quarter valued at approximately $161,000. 29.32% of the stock is owned by institutional investors.

BlackRock MuniYield New York Quality Fund Company Profile

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.