BlackRock MuniYield Michigan Quality Fund (NYSE:MIY) Share Price Passes Below 50 Day Moving Average – Should You Sell?

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)’s stock price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.59 and traded as low as $11.28. BlackRock MuniYield Michigan Quality Fund shares last traded at $11.32, with a volume of 79,050 shares changing hands.

BlackRock MuniYield Michigan Quality Fund Price Performance

The firm’s fifty day moving average price is $11.58 and its 200-day moving average price is $11.68.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be issued a dividend of $0.0545 per share. The ex-dividend date is Wednesday, January 15th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.75%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC raised its stake in shares of BlackRock MuniYield Michigan Quality Fund by 5.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 66,102 shares of the financial services provider’s stock worth $756,000 after purchasing an additional 3,405 shares in the last quarter. Cetera Investment Advisers increased its holdings in BlackRock MuniYield Michigan Quality Fund by 2.0% during the second 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 during the last quarter. Melone Private Wealth LLC raised its position in BlackRock MuniYield Michigan Quality Fund by 0.5% during the third quarter. Melone Private Wealth LLC now owns 378,496 shares of the financial services provider’s stock worth $4,546,000 after acquiring an additional 1,809 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in BlackRock MuniYield Michigan Quality Fund by 2.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 211,192 shares of the financial services provider’s stock worth $2,536,000 after acquiring an additional 5,287 shares in the last quarter. Finally, West Michigan Advisors LLC acquired a new stake in BlackRock MuniYield Michigan Quality Fund in the third quarter valued at $248,000. 24.15% of the stock is currently owned by institutional investors.

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.