Shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Get Free Report) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.59 and traded as low as $11.28. BlackRock MuniYield Michigan Quality Fund shares last traded at $11.32, with a volume of 79,050 shares trading hands.
BlackRock MuniYield Michigan Quality Fund Stock Performance
The company has a 50-day simple moving average of $11.59 and a two-hundred day simple moving average of $11.68.
BlackRock MuniYield Michigan Quality Fund Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.0545 per share. This represents a $0.65 annualized dividend and a yield of 5.74%. The ex-dividend date of this dividend is Wednesday, January 15th.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. FSA Advisors Inc. bought a new position in BlackRock MuniYield Michigan Quality Fund during the third quarter worth about $150,000. West Michigan Advisors LLC bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 3rd quarter worth approximately $248,000. Wolverine Asset Management LLC increased its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 339.5% during the 3rd quarter. Wolverine Asset Management LLC now owns 48,704 shares of the financial services provider's stock worth $585,000 after acquiring an additional 37,622 shares during the last quarter. AHL Investment Management Inc. increased its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 37.2% during the 3rd quarter. AHL Investment Management Inc. now owns 64,900 shares of the financial services provider's stock worth $779,000 after acquiring an additional 17,600 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in BlackRock MuniYield Michigan Quality Fund by 5.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 66,102 shares of the financial services provider's stock valued at $756,000 after acquiring an additional 3,405 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
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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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