Hennion & Walsh Asset Management Inc. Reduces Stake in BlackRock MuniYield New York Quality Fund

Hennion & Walsh Asset Management Inc. has lowered its investment in BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) by 12.7% during the third quarter, as revealed in a recent filing with the Securities and Exchange Commission. Following the sale of 86,422 shares in the quarter, the firm now holds 595,134 shares, representing 1.55% of the fund, which is valued at approximately $6,416,000.

Several other major investors have also been active with BlackRock MuniYield New York Quality Fund. Robinson Capital Management LLC saw a 13.2% increase in its holdings during the first quarter, bringing its total to 294,463 shares valued at about $2,959,000 after acquiring an additional 34,422 shares. Breakwater Capital Group increased its position by 46.0% in the second quarter, now owning 37,502 shares worth $393,000, thanks to the acquisition of 11,809 shares.

Joseph P. Lucia & Associates LLC entered the market by purchasing a new stake worth around $121,000 also in the second quarter. In the same period, Commonwealth Equity Services LLC raised its stake by 3.1%, owning 103,876 shares and valued at $1,088,000 after acquiring an additional 3,140 shares. Additionally, TIAA Trust National Association boosted its holdings by 20.7% in the second quarter, securing 12,821 shares worth $134,000 after purchasing 2,200 shares. Approximately 29.32% of the shares of the fund are owned by institutional investors and hedge funds.

BlackRock MuniYield New York Quality Fund Price Performance

The shares of MYN opened at $10.40 recently. The stock has a 50-day moving average of $10.61 and a 200-day moving average of $10.46. Over the last year, BlackRock MuniYield New York Quality Fund has traded between a low of $8.47 and a high of $10.87.

BlackRock MuniYield New York Quality Fund Increases Dividend

The fund has declared a monthly dividend that will be distributed on Friday, November 1st. Shareholders who were on record as of Tuesday, October 15th, will receive a dividend of $0.0512 per share, equating to an annualized dividend of $0.61 and a yield of 5.91%. This marks an increase from the previous monthly dividend of $0.04.

About BlackRock MuniYield New York Quality Fund

BlackRock MuniYield New York Quality Fund, Inc. is a closed-end fixed income mutual fund managed by BlackRock Advisors, LLC. The fund primarily invests in long-term investment-grade municipal bonds that are exempt from federal income taxes as well as New York State and City personal income taxes.

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