BlackRock MuniYield Michigan Quality Fund (NYSE:MIY) Stock Passes Above 50-Day Moving Average – Here’s Why

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.44 and traded as high as $11.63. BlackRock MuniYield Michigan Quality Fund shares last traded at $11.61, with a volume of 26,375 shares.

BlackRock MuniYield Michigan Quality Fund Stock Performance

The business has a 50 day moving average of $11.44 and a 200 day moving average of $11.68.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.0545 per share. The ex-dividend date is Friday, February 14th. This represents a $0.65 annualized dividend and a dividend yield of 5.63%.

Institutional Trading of BlackRock MuniYield Michigan Quality Fund

Hedge funds have recently modified their holdings of the company. Elequin Capital LP bought a new stake in BlackRock MuniYield Michigan Quality Fund in the fourth quarter valued at approximately $49,000. Nomura Holdings Inc. acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund in the 4th quarter valued at $135,000. Baird Financial Group Inc. grew its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 91.0% in the 4th quarter. Baird Financial Group Inc. now owns 38,513 shares of the financial services provider’s stock valued at $431,000 after buying an additional 18,351 shares during the period. Bank of America Corp DE increased its position in shares of BlackRock MuniYield Michigan Quality Fund by 11.8% in the 4th quarter. Bank of America Corp DE now owns 268,116 shares of the financial services provider’s stock valued at $2,998,000 after buying an additional 28,252 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in BlackRock MuniYield Michigan Quality Fund by 25.7% during the 4th quarter. Stifel Financial Corp now owns 128,553 shares of the financial services provider’s stock worth $1,437,000 after buying an additional 26,268 shares during the period. 24.15% of the stock is currently owned by institutional investors and hedge funds.

BlackRock MuniYield Michigan Quality Fund Company Profile

BlackRock MuniYield Michigan 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 the fixed income markets of the United States. It primarily invests in investment grade, long-term municipal obligations exempt from federal income taxes and Michigan income taxes.