BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY – Get Free Report)’s share price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $12.11 and traded as high as $12.18. BlackRock MuniYield Michigan Quality Fund shares last traded at $12.1820, with a volume of 44,780 shares changing hands.
BlackRock MuniYield Michigan Quality Fund Stock Performance
The company has a 50-day moving average of $11.96 and a two-hundred day moving average of $12.11.
BlackRock MuniYield Michigan Quality Fund Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be issued a $0.0545 dividend. The ex-dividend date is Friday, December 11th. This represents a $0.65 annualized dividend and a yield of 5.4%.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of MIY. Kestra Advisory Services LLC grew its holdings 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 period. FSA Advisors Inc. raised its stake in BlackRock MuniYield Michigan Quality Fund by 10.7% during the first quarter. FSA Advisors Inc. now owns 226,124 shares of the financial services provider’s stock worth $2,686,000 after purchasing an additional 21,879 shares during the period. Summit Financial Consulting LLC raised its stake in BlackRock MuniYield Michigan Quality Fund by 4.9% during the third quarter. Summit Financial Consulting LLC now owns 41,515 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 1,947 shares during the period. Foresight Capital Management Advisors Inc. raised its stake in BlackRock MuniYield Michigan Quality Fund by 8.8% during the second quarter. Foresight Capital Management Advisors Inc. now owns 39,991 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 3,225 shares during the period. Finally, Parallel Advisors LLC acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund in the 1st quarter valued at $443,000. 24.15% of the stock is currently owned by hedge funds and other institutional investors.
About BlackRock MuniYield Michigan Quality Fund
BlackRock MuniYield Michigan Quality Fund, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol MIY. The fund seeks to provide investors with current income that is exempt from federal income tax and Michigan personal income tax, subject to applicable tax rules.
The fund invests primarily in long-term municipal obligations issued by or on behalf of the state of Michigan, its municipalities, and other governmental entities. Its portfolio may include bonds financing public infrastructure and essential services, such as education, transportation, utilities, health care, and housing.
BlackRock Advisors, LLC, an affiliate of BlackRock, manages the fund.
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