MHN Stock Summary and Trading Ideas (Blackrock Munihlds Ny Quality | NYSE:MHN)

BlackRock MuniHoldings New York Quality Fund, Inc.’s (MHN) (the “Trust”) investment objective is to provide shareholders with current income exempt from federal income tax and New York State and New York City personal income taxes. The Trust seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its assets in investment grade New York municipal obligations exempt from federal income taxes (except that the interest may be subject to the federal alternative minimum tax) and New York State and New York City personal income taxes (“New York Municipal Bonds”), except at times when, in the judgment of its investment adviser, New York Municipal Bonds of sufficient quality and quantity are unavailable for investment by the Trust. At all times, however, except during temporary defensive periods, the Trust invests at least 65% of its assets in New York Municipal Bonds. The Trust invests, under normal market conditions, at least 80% of its assets in municipal obligations with remaining maturities of one year or more. The Trust may invest directly in such securities or synthetically through the use of derivatives.

Blackrock Munihlds Ny Quality trades on the NYSE stock market under the symbol MHN.

As of April 23, 2024, MHN stock price climbed to $10.26 with 21,722 million shares trading.

MHN has a beta of 0.61, meaning it tends to be less sensitive to market movements. MHN has a correlation of 0.29 to the broad based SPY ETF.

MHN has a market cap of $310.28 million. This is considered a Small Cap stock.

In the last 3 years, MHN stock traded as high as $15.16 and as low as $8.69.

MHN has underperformed the market in the last year with a return of +3.6%, while the SPY ETF gained +24.3%. In the last 3 month period, MHN fell short of the market, returning -0.6%, while SPY returned +4.9%. However, in the most recent 2 weeks MHN has outperformed the stock market by returning -2.1%, while SPY returned -2.5%.

MHN support price is $10.17 and resistance is $10.29 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MHN stock will trade within this expected range on the day.