Short Interest in BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) Decreases By 68.7%

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN - Get Free Report) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 14,700 shares, a drop of 68.7% from the September 30th total of 46,900 shares. Based on an average daily volume of 92,900 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On BlackRock MuniYield New York Quality Fund

A number of hedge funds have recently added to or reduced their stakes in the company. Robinson Capital Management LLC boosted its holdings in BlackRock MuniYield New York Quality Fund by 13.2% in the first quarter. Robinson Capital Management LLC now owns 294,463 shares of the investment management company's stock worth $2,959,000 after purchasing an additional 34,422 shares in the last quarter. Breakwater Capital Group grew its holdings in BlackRock MuniYield New York Quality Fund by 46.0% during the second quarter. Breakwater Capital Group now owns 37,502 shares of the investment management company's stock valued at $393,000 after purchasing an additional 11,809 shares during the last quarter. Joseph P. Lucia & Associates LLC acquired a new stake in shares of BlackRock MuniYield New York Quality Fund in the second quarter worth $121,000. Joel Isaacson & Co. LLC boosted its holdings in shares of BlackRock MuniYield New York Quality Fund by 27.9% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 22,360 shares of the investment management company's stock worth $241,000 after buying an additional 4,877 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in BlackRock MuniYield New York Quality Fund by 0.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 681,556 shares of the investment management company's stock worth $7,136,000 after acquiring an additional 4,020 shares during the period. Institutional investors and hedge funds own 29.32% of the company's stock.

BlackRock MuniYield New York Quality Fund Stock Performance

MYN traded up $0.08 on Friday, reaching $10.39. 76,803 shares of the company traded hands, compared to its average volume of 76,869. The stock's 50 day moving average price is $10.61 and its 200-day moving average price is $10.46. BlackRock MuniYield New York Quality Fund has a 52-week low of $8.47 and a 52-week high of $10.87.

BlackRock MuniYield New York Quality Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be given a dividend of $0.0512 per share. This is a boost from BlackRock MuniYield New York Quality Fund's previous monthly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.61 dividend on an annualized basis and a yield of 5.91%.

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.