BlackRock MuniYield Michigan Quality Fund (NYSE:MIY) Stock Passes Above Fifty Day Moving Average – Time to Sell?

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)’s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $11.54 and traded as high as $11.61. BlackRock MuniYield Michigan Quality Fund shares last traded at $11.52, with a volume of 41,199 shares changing hands.

BlackRock MuniYield Michigan Quality Fund Stock Performance

The firm’s 50 day moving average is $11.54 and its two-hundred day moving average is $11.68.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be issued a $0.0545 dividend. This represents a $0.65 annualized dividend and a dividend yield of 5.68%. The ex-dividend date is Wednesday, January 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp boosted its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 30.4% during the third quarter. Stifel Financial Corp now owns 102,285 shares of the financial services provider’s stock valued at $1,228,000 after acquiring an additional 23,850 shares during the period. Cetera Investment Advisers boosted its stake in BlackRock MuniYield Michigan Quality Fund by 2.0% during the 2nd quarter. Cetera Investment Advisers now owns 179,534 shares of the financial services provider’s stock valued at $2,054,000 after purchasing an additional 3,511 shares during the period. Wolverine Asset Management LLC grew its position in BlackRock MuniYield Michigan Quality Fund by 339.5% in the 3rd quarter. Wolverine Asset Management LLC now owns 48,704 shares of the financial services provider’s stock worth $585,000 after purchasing an additional 37,622 shares during the last quarter. AHL Investment Management Inc. grew its position in BlackRock MuniYield Michigan Quality Fund by 37.2% in the 3rd quarter. AHL Investment Management Inc. now owns 64,900 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 17,600 shares during the last quarter. Finally, West Michigan Advisors LLC acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the third quarter valued at approximately $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.