BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Get Free Report) shares crossed 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.
BlackRock MuniYield Michigan Quality Fund Price Performance
The business's 50 day moving average price is $11.30 and its 200-day moving average price is $11.43.
BlackRock MuniYield Michigan Quality Fund Dividend Announcement
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.0545 per share. This represents a $0.65 annualized dividend and a yield of 5.91%. The ex-dividend date of this dividend is Friday, June 13th.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC raised its position in shares of BlackRock MuniYield Michigan Quality Fund by 19.6% during the 1st quarter. Kestra Advisory Services LLC now owns 255,984 shares of the financial services provider's stock valued at $2,913,000 after acquiring an additional 41,945 shares in the last quarter. Shufro Rose & Co. LLC boosted its holdings in BlackRock MuniYield Michigan Quality Fund by 40.0% in the first quarter. Shufro Rose & Co. LLC now owns 17,500 shares of the financial services provider's stock worth $199,000 after purchasing an additional 5,000 shares during the period. FSA Advisors Inc. bought a new stake in BlackRock MuniYield Michigan Quality Fund during the first quarter valued at $1,166,000. Axxcess Wealth Management LLC raised its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 66.2% during the first quarter. Axxcess Wealth Management LLC now owns 32,000 shares of the financial services provider's stock worth $364,000 after purchasing an additional 12,750 shares during the period. Finally, Summit Financial Consulting LLC acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the first quarter worth $282,000. Institutional investors and hedge funds own 24.15% of the company's stock.
About BlackRock MuniYield Michigan Quality Fund
(
Get Free Report)
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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