BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Get Free Report) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $12.25 and traded as high as $12.65. BlackRock MuniYield Michigan Quality Fund shares last traded at $12.5850, with a volume of 45,679 shares.
BlackRock MuniYield Michigan Quality Fund Price Performance
The stock has a 50-day moving average of $12.25 and a 200-day moving average of $12.16.
BlackRock MuniYield Michigan Quality Fund Dividend Announcement
The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.0545 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 5.2%.
Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund
A number of large investors have recently added to or reduced their stakes in MIY. Kestra Advisory Services LLC lifted its position in BlackRock MuniYield Michigan Quality Fund by 1.3% in the first quarter. Kestra Advisory Services LLC now owns 346,343 shares of the financial services provider's stock valued at $4,115,000 after purchasing an additional 4,291 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 1.7% in the third quarter. Bank of America Corp DE now owns 297,871 shares of the financial services provider's stock worth $3,360,000 after purchasing an additional 4,943 shares during the last quarter. FSA Advisors Inc. increased its stake in shares of BlackRock MuniYield Michigan Quality Fund by 10.7% in the first quarter. FSA Advisors Inc. now owns 226,124 shares of the financial services provider's stock worth $2,686,000 after buying an additional 21,879 shares during the period. Stifel Financial Corp increased its stake in shares of BlackRock MuniYield Michigan Quality Fund by 5.3% in the fourth quarter. Stifel Financial Corp now owns 172,694 shares of the financial services provider's stock worth $2,027,000 after buying an additional 8,639 shares during the period. Finally, LPL Financial LLC raised its holdings in BlackRock MuniYield Michigan Quality Fund by 41.5% during the 4th quarter. LPL Financial LLC now owns 160,413 shares of the financial services provider's stock valued at $1,883,000 after buying an additional 47,044 shares during the last quarter. Hedge funds and other institutional investors own 24.15% of the company's stock.
About BlackRock MuniYield Michigan Quality Fund
(
Get Free Report)
BlackRock MuniYield Michigan Quality Fund NYSE: MIY is a closed-end management investment company that seeks to provide current income exempt from federal and Michigan personal income taxes. The fund primarily invests in investment-grade municipal securities issued by state and local governments within Michigan. Its portfolio typically includes a diversified mix of general obligation bonds and revenue bonds backed by public utilities, transportation projects, and other essential municipal services.
The fund's investment strategy emphasizes credit quality and diversification across sectors and maturities.
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