BlackRock MuniYield Michigan Quality Fund (NYSE:MIY) Shares Pass Above 50-Day Moving Average – Time to Sell?

Shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) crossed 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 stock has a 50 day moving average price of $11.44 and a two-hundred day moving average price of $11.68.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

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

Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund

A number of large investors have recently modified their holdings of the stock. Rivernorth Capital Management LLC increased its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 6.6% in the third quarter. Rivernorth Capital Management LLC now owns 404,338 shares of the financial services provider’s stock valued at $4,856,000 after purchasing an additional 25,000 shares in the last quarter. Bank of America Corp DE boosted its position in BlackRock MuniYield Michigan Quality Fund by 11.8% in the 4th quarter. Bank of America Corp DE now owns 268,116 shares of the financial services provider’s stock valued at $2,998,000 after buying an additional 28,252 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of BlackRock MuniYield Michigan Quality Fund by 2.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 211,192 shares of the financial services provider’s stock valued at $2,536,000 after buying an additional 5,287 shares during the period. Stifel Financial Corp raised its position in shares of BlackRock MuniYield Michigan Quality Fund by 25.7% during the fourth quarter. Stifel Financial Corp now owns 128,553 shares of the financial services provider’s stock worth $1,437,000 after acquiring an additional 26,268 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 55.4% during the fourth quarter. LPL Financial LLC now owns 117,812 shares of the financial services provider’s stock valued at $1,317,000 after acquiring an additional 41,989 shares during the period. 24.15% of the stock is currently owned by institutional investors and hedge funds.

About BlackRock MuniYield Michigan Quality Fund

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.