BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY – Get Free Report) passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $12.03 and traded as low as $11.69. BlackRock MuniYield Michigan Quality Fund shares last traded at $11.71, with a volume of 20,317 shares trading hands.
BlackRock MuniYield Michigan Quality Fund Price Performance
The business has a fifty day simple moving average of $12.02 and a two-hundred day simple moving average of $12.07.
BlackRock MuniYield Michigan Quality Fund Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be given a dividend of $0.0545 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.65 annualized dividend and a dividend yield of 5.5%.
Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund
Institutional investors have recently made changes to their positions in the business. Summit Financial Consulting LLC grew its position in BlackRock MuniYield Michigan Quality Fund by 4.9% during the third quarter. Summit Financial Consulting LLC now owns 41,515 shares of the financial services provider’s stock valued at $469,000 after buying an additional 1,947 shares during the period. Baird Financial Group Inc. raised its position in BlackRock MuniYield Michigan Quality Fund by 5.1% in the second quarter. Baird Financial Group Inc. now owns 36,198 shares of the financial services provider’s stock worth $444,000 after acquiring an additional 1,754 shares during the period. Parallel Advisors LLC purchased a new position in BlackRock MuniYield Michigan Quality Fund during the first quarter valued at $443,000. Foresight Capital Management Advisors Inc. increased its position in BlackRock MuniYield Michigan Quality Fund by 8.8% in the second quarter. Foresight Capital Management Advisors Inc. now owns 39,991 shares of the financial services provider’s stock worth $491,000 after buying an additional 3,225 shares in the last quarter. Finally, Fifth Third Bancorp bought a new position in shares of BlackRock MuniYield Michigan Quality Fund in the first quarter worth about $61,000. 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-end investment company listed on the New York Stock Exchange under the symbol MIY. The fund seeks to provide investors with current income that is exempt from federal income tax and Michigan personal income tax, subject to applicable tax rules.
The fund invests primarily in long-term municipal obligations issued by or on behalf of the state of Michigan, its municipalities, and other governmental entities. Its portfolio may include bonds financing public infrastructure and essential services, such as education, transportation, utilities, health care, and housing.
BlackRock Advisors, LLC, an affiliate of BlackRock, manages the fund.
Further Reading
- Five stocks we like better than BlackRock MuniYield Michigan Quality Fund
- Spotify Soars After Earnings as the Company Touts AI Benefits and Moderating Costs
- Lockheed Martin’s Record $292 Billion Backlog Comes With a Delivery Test
- Palantir’s Next Big Test Isn’t a Partnership—It’s the Numbers
- Kinder Morgan’s $4.7 Billion Pipeline Bet Could Be Bigger Than Its Earnings Beat
Receive News & Ratings for BlackRock MuniYield Michigan Quality Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock MuniYield Michigan Quality Fund and related companies with MarketBeat.com's FREE daily email newsletter.
