BlackRock MuniYield Michigan Quality Fund (NYSE:MIY) Shares Pass Below 50 Day Moving Average of $11.46

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $11.46 and traded as low as $11.09. BlackRock MuniYield Michigan Quality Fund shares last traded at $11.13, with a volume of 66,344 shares trading hands.

BlackRock MuniYield Michigan Quality Fund Stock Performance

The stock’s 50-day moving average is $11.44 and its 200-day moving average is $10.99.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be given a dividend of $0.0465 per share. The ex-dividend date is Friday, April 12th. This represents a $0.56 annualized dividend and a yield of 5.02%.

Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Arbitrage LLC lifted its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 90.2% in the third quarter. AQR Arbitrage LLC now owns 205,914 shares of the financial services provider’s stock worth $2,045,000 after buying an additional 97,635 shares in the last quarter. Robinson Capital Management LLC raised its stake in BlackRock MuniYield Michigan Quality Fund by 13.0% in the third quarter. Robinson Capital Management LLC now owns 389,193 shares of the financial services provider’s stock valued at $3,853,000 after purchasing an additional 44,837 shares in the last quarter. Axxcess Wealth Management LLC purchased a new stake in BlackRock MuniYield Michigan Quality Fund in the third quarter valued at approximately $143,000. Raymond James Financial Services Advisors Inc. raised its stake in BlackRock MuniYield Michigan Quality Fund by 5.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 69,720 shares of the financial services provider’s stock valued at $792,000 after purchasing an additional 3,904 shares in the last quarter. Finally, Foresight Capital Management Advisors Inc. purchased a new stake in BlackRock MuniYield Michigan Quality Fund in the fourth quarter valued at approximately $195,000. Institutional investors own 24.15% of the company’s stock.

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.