BlackRock MuniYield Michigan Quality Fund (NYSE:MIY) Share Price Crosses Below 50 Day Moving Average of $10.96

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)’s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $10.96 and traded as low as $10.68. BlackRock MuniYield Michigan Quality Fund shares last traded at $10.72, with a volume of 20,554 shares.

BlackRock MuniYield Michigan Quality Fund Stock Performance

The business has a 50 day moving average price of $10.96 and a 200-day moving average price of $11.05.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a dividend of $0.0345 per share. This represents a $0.41 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Monday, August 14th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Fiera Capital Corp increased its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 15.8% during the 2nd quarter. Fiera Capital Corp now owns 498,690 shares of the financial services provider’s stock worth $5,511,000 after acquiring an additional 68,173 shares during the last quarter. Melone Private Wealth LLC grew its holdings in BlackRock MuniYield Michigan Quality Fund by 0.7% in the 2nd quarter. Melone Private Wealth LLC now owns 430,596 shares of the financial services provider’s stock valued at $4,758,000 after buying an additional 2,971 shares in the last quarter. Morgan Stanley grew its holdings in BlackRock MuniYield Michigan Quality Fund by 21.7% in the 4th quarter. Morgan Stanley now owns 413,947 shares of the financial services provider’s stock valued at $4,591,000 after buying an additional 73,905 shares in the last quarter. Rivernorth Capital Management LLC grew its holdings in BlackRock MuniYield Michigan Quality Fund by 73.1% in the 2nd quarter. Rivernorth Capital Management LLC now owns 357,082 shares of the financial services provider’s stock valued at $3,946,000 after buying an additional 150,768 shares in the last quarter. Finally, Robinson Capital Management LLC grew its holdings in BlackRock MuniYield Michigan Quality Fund by 2.5% in the 2nd quarter. Robinson Capital Management LLC now owns 344,356 shares of the financial services provider’s stock valued at $3,819,000 after buying an additional 8,526 shares in the last quarter. 19.63% of the stock is owned by institutional investors and hedge funds.

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.