BlackRock MuniYield Michigan Quality Fund (NYSE:MIY) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $11.44 and traded as high as $11.63. BlackRock MuniYield Michigan Quality Fund shares last traded at $11.61, with a volume of 26,375 shares traded.

BlackRock MuniYield Michigan Quality Fund Price Performance

The business has a fifty day simple moving average of $11.44 and a 200-day simple moving average of $11.68.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.0545 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.65 annualized dividend and a dividend yield of 5.63%.

Institutional Investors Weigh In On BlackRock MuniYield Michigan Quality Fund

Several institutional investors and hedge funds have recently made changes to their positions in MIY. Bank of Montreal Can boosted its position in shares of BlackRock MuniYield Michigan Quality Fund by 4.8% during the 4th quarter. Bank of Montreal Can now owns 19,740 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 913 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of BlackRock MuniYield Michigan Quality Fund by 3.2% during the 4th quarter. Wells Fargo & Company MN now owns 117,579 shares of the financial services provider’s stock valued at $1,315,000 after purchasing an additional 3,612 shares in the last quarter. Elequin Capital LP bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter valued at about $49,000. Allspring Global Investments Holdings LLC boosted its position in shares of BlackRock MuniYield Michigan Quality Fund by 2.6% during the 3rd 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. Finally, Nomura Holdings Inc. bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter valued at about $135,000. Institutional investors and hedge funds own 24.15% of the company’s stock.

About BlackRock MuniYield Michigan Quality Fund

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.