Shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Get Free Report) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $11.31 and traded as low as $11.07. BlackRock MuniYield Michigan Quality Fund shares last traded at $11.10, with a volume of 41,723 shares changing hands.
BlackRock MuniYield Michigan Quality Fund Trading Down 1.1%
The business's fifty day simple moving average is $11.31 and its 200-day simple moving average is $11.44.
BlackRock MuniYield Michigan Quality Fund Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.0545 per share. The ex-dividend date is Friday, June 13th. This represents a $0.65 dividend on an annualized basis and a yield of 5.89%.
Institutional Investors Weigh In On BlackRock MuniYield Michigan Quality Fund
Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund in the fourth quarter worth $928,000. PNC Financial Services Group Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund in the fourth quarter worth $154,000. LPL Financial LLC increased its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 55.4% in the fourth quarter. LPL Financial LLC now owns 117,812 shares of the financial services provider's stock worth $1,317,000 after purchasing an additional 41,989 shares during the period. Wells Fargo & Company MN increased its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 3.2% in the fourth quarter. Wells Fargo & Company MN now owns 117,579 shares of the financial services provider's stock worth $1,315,000 after purchasing an additional 3,612 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 4.8% in the fourth quarter. Bank of Montreal Can now owns 19,740 shares of the financial services provider's stock worth $221,000 after purchasing an additional 913 shares during the period. Institutional investors own 24.15% of the company's stock.
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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