BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Get Free Report)'s stock price crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $11.53 and traded as low as $11.36. BlackRock MuniYield Michigan Quality Fund shares last traded at $11.39, with a volume of 43,001 shares changing hands.
BlackRock MuniYield Michigan Quality Fund Price Performance
The company's 50-day simple moving average is $11.54 and its 200-day simple moving average is $11.65.
BlackRock MuniYield Michigan Quality Fund Announces 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 given a dividend of $0.0545 per share. This represents a $0.65 annualized dividend and a yield of 5.78%. The ex-dividend date is Friday, March 14th.
Institutional Trading of BlackRock MuniYield Michigan Quality Fund
Several hedge funds and other institutional investors have recently modified their holdings of MIY. PNC Financial Services Group Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter valued at $154,000. Stifel Financial Corp boosted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 30.4% during the 3rd quarter. Stifel Financial Corp now owns 102,285 shares of the financial services provider's stock worth $1,228,000 after acquiring an additional 23,850 shares in the last quarter. Rivernorth Capital Management LLC increased its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 6.6% during the 3rd quarter. Rivernorth Capital Management LLC now owns 404,338 shares of the financial services provider's stock valued at $4,856,000 after acquiring an additional 25,000 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund in the 4th quarter valued at approximately $135,000. Finally, Elequin Capital LP bought a new position in shares of BlackRock MuniYield Michigan Quality Fund in the 4th quarter valued at approximately $49,000. 24.15% of the stock is currently owned by hedge funds and other institutional investors.
About BlackRock MuniYield Michigan Quality Fund
(
Get Free Report)
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.
Further Reading
Before you consider BlackRock MuniYield Michigan Quality Fund, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BlackRock MuniYield Michigan Quality Fund wasn't on the list.
While BlackRock MuniYield Michigan Quality Fund currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
