BlackRock MuniYield Michigan Quality Fund (NYSE:MIY) Shares Pass Above Fifty Day Moving Average of $11.37

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)’s share price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.37 and traded as high as $11.50. BlackRock MuniYield Michigan Quality Fund shares last traded at $11.47, with a volume of 18,644 shares.

BlackRock MuniYield Michigan Quality Fund Stock Down 0.2 %

The stock has a fifty day simple moving average of $11.37 and a 200 day simple moving average of $11.36.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be issued a $0.0465 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Monday, July 15th.

Institutional Trading of BlackRock MuniYield Michigan Quality Fund

A number of institutional investors and hedge funds have recently modified their holdings of MIY. Cetera Investment Advisers bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the 1st quarter worth $2,026,000. Robinson Capital Management LLC grew its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 39.9% in the fourth quarter. Robinson Capital Management LLC now owns 544,410 shares of the financial services provider’s stock worth $6,190,000 after acquiring an additional 155,217 shares during the period. Fiera Capital Corp grew its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 8.5% in the fourth quarter. Fiera Capital Corp now owns 553,693 shares of the financial services provider’s stock worth $6,290,000 after acquiring an additional 43,454 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 43.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 135,082 shares of the financial services provider’s stock worth $1,535,000 after acquiring an additional 41,239 shares during the period. Finally, Stonebrook Private Inc. bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the fourth quarter worth $420,000. 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.