BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY – Free Report) crossed above its 50-day moving average on Friday. The stock has a 50-day moving average of $11.37 and has traded as high as $11.50. BlackRock MuniYield Michigan Quality Fund shares last traded at $11.47 with volume of 18,644 shares changing hands.
BlackRock MuniYield Michigan Quality Fund down 0.3%
The stock’s 50-day moving average price is $11.37 and its 200-day moving average price is $11.36.
BlackRock MuniYield Michigan Quality Fund announces dividend
The company also recently announced a monthly dividend, which will be paid on Thursday, August 1. Shareholders of record on Monday, July 15th will receive a dividend of $0.0465. The ex-dividend date is Monday, July 15th. This represents an annualized dividend of $0.56 and a yield of 4.86%.
Hedge funds comment on the BlackRock MuniYield Michigan Quality Fund
Institutional investors have recently changed their holdings in the company. Cetera Investment Advisers acquired a new stake in BlackRock MuniYield Michigan Quality Fund in the 1st quarter valued at $2,026,000. Robinson Capital Management LLC increased its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 39.9% in the fourth quarter. Robinson Capital Management LLC now owns 544,410 shares of the financial services provider’s stock valued at $6,190,000 after purchasing an additional 155,217 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 8.5% in the fourth quarter. Fiera Capital Corp now owns 553,693 shares of the financial services provider’s stock valued at $6,290,000 after purchasing an additional 43,454 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 43.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 135,082 shares of the financial services provider’s stock worth $1,535,000 after acquiring an additional 41,239 shares in the last quarter. Finally, Stonebrook Private Inc. bought a new position in BlackRock MuniYield Michigan Quality Fund in the 4th quarter valued at about $420,000. 24.15% of the shares are owned by institutional investors and hedge funds.
BlackRock MuniYield Michigan Quality Fund Company Profile
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BlackRock MuniYield Michigan Quality Fund, Inc. is a closed-end fixed income mutual fund established by BlackRock, Inc. It is managed by BlackRock Advisors, LLC. The Fund invests in the fixed income markets of the United States. It invests primarily in long-term investment-grade municipal bonds that are exempt from federal income tax and Michigan income tax.
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