BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Get Free Report)'s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $11.47 and traded as low as $10.96. BlackRock MuniYield Michigan Quality Fund shares last traded at $11.11, with a volume of 143,320 shares trading hands.
BlackRock MuniYield Michigan Quality Fund Trading Down 0.3 %
The stock's fifty day moving average price is $11.42 and its 200-day moving average price is $11.55.
BlackRock MuniYield Michigan Quality Fund Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a $0.0545 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.65 dividend on an annualized basis and a yield of 5.89%.
Institutional Trading of BlackRock MuniYield Michigan Quality Fund
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Elequin Capital LP acquired a new position in BlackRock MuniYield Michigan Quality Fund in the fourth quarter valued at about $49,000. Simon Quick Advisors LLC purchased a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the 1st quarter valued at approximately $116,000. Nomura Holdings Inc. acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund in the 4th quarter worth approximately $135,000. PNC Financial Services Group Inc. purchased a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter worth approximately $154,000. Finally, Bank of Montreal Can increased its holdings in BlackRock MuniYield Michigan Quality Fund by 4.8% in the 4th quarter. Bank of Montreal Can now owns 19,740 shares of the financial services provider's stock valued at $221,000 after purchasing an additional 913 shares during the last quarter. 24.15% of the stock is owned by institutional investors and hedge funds.
About BlackRock MuniYield Michigan Quality Fund
(
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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.
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