BlackRock MuniYield Michigan Quality Fund (NYSE:MIY) Share Price Passes Below Fifty Day Moving Average – Time to Sell?

Shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.86 and traded as low as $11.72. BlackRock MuniYield Michigan Quality Fund shares last traded at $11.73, with a volume of 48,305 shares.

BlackRock MuniYield Michigan Quality Fund Trading Up 1.0 %

The stock’s 50-day moving average is $11.86 and its two-hundred day moving average is $11.55.

BlackRock MuniYield Michigan Quality Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.0545 per share. This is a positive change from BlackRock MuniYield Michigan Quality Fund’s previous monthly dividend of $0.05. This represents a $0.65 annualized dividend and a dividend yield of 5.59%. The ex-dividend date is Tuesday, October 15th.

Institutional Investors Weigh In On BlackRock MuniYield Michigan Quality Fund

Several institutional investors and hedge funds have recently modified their holdings of MIY. FSA Advisors Inc. acquired a new position in BlackRock MuniYield Michigan Quality Fund in the 3rd quarter valued at about $150,000. West Michigan Advisors LLC purchased a new position in shares of BlackRock MuniYield Michigan Quality Fund in the third quarter valued at approximately $248,000. Allspring Global Investments Holdings LLC grew its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 2.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 211,192 shares of the financial services provider’s stock valued at $2,536,000 after purchasing an additional 5,287 shares in the last quarter. Melone Private Wealth LLC increased its stake in BlackRock MuniYield Michigan Quality Fund by 0.5% during the 3rd quarter. Melone Private Wealth LLC now owns 378,496 shares of the financial services provider’s stock worth $4,546,000 after buying an additional 1,809 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in BlackRock MuniYield Michigan Quality Fund by 2.0% during the 2nd quarter. Cetera Investment Advisers now owns 179,534 shares of the financial services provider’s stock worth $2,054,000 after buying an additional 3,511 shares in the last quarter. Hedge funds and other 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.