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

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.44 and traded as high as $11.63. BlackRock MuniYield Michigan Quality Fund shares last traded at $11.61, with a volume of 26,375 shares.

BlackRock MuniYield Michigan Quality Fund Stock Up 0.3 %

The firm has a fifty day simple moving average of $11.44 and a 200-day simple moving average of $11.68.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.0545 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.65 annualized dividend and a yield of 5.63%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its holdings in BlackRock MuniYield Michigan Quality Fund by 4.8% in the fourth quarter. Bank of Montreal Can now owns 19,740 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 913 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of BlackRock MuniYield Michigan Quality Fund by 3.2% in the fourth quarter. Wells Fargo & Company MN now owns 117,579 shares of the financial services provider’s stock worth $1,315,000 after purchasing an additional 3,612 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the fourth quarter worth approximately $49,000. Allspring Global Investments Holdings LLC raised its stake in shares of BlackRock MuniYield Michigan Quality Fund by 2.6% in 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 purchasing an additional 5,287 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the fourth quarter worth approximately $135,000. Institutional investors own 24.15% of the company’s stock.

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.