BlackRock MuniYield Michigan Quality Fund (NYSE:MIY) Stock Crosses Below 50 Day Moving Average – Time to Sell?

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $11.53 and traded as low as $11.36. BlackRock MuniYield Michigan Quality Fund shares last traded at $11.39, with a volume of 43,001 shares trading hands.

BlackRock MuniYield Michigan Quality Fund Price Performance

The company has a 50 day simple moving average of $11.53 and a 200-day simple moving average of $11.65.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.0545 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.74%.

Institutional Trading of BlackRock MuniYield Michigan Quality Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in MIY. Raymond James Financial Inc. bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter valued at $928,000. LPL Financial LLC raised its stake in shares of BlackRock MuniYield Michigan Quality Fund by 55.4% during the 4th quarter. LPL Financial LLC now owns 117,812 shares of the financial services provider’s stock valued at $1,317,000 after purchasing an additional 41,989 shares during the period. Bank of America Corp DE raised its stake in shares of BlackRock MuniYield Michigan Quality Fund by 11.8% during 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 purchasing an additional 28,252 shares during the period. Stifel Financial Corp raised its stake in shares of BlackRock MuniYield Michigan Quality Fund by 25.7% during the 4th quarter. Stifel Financial Corp now owns 128,553 shares of the financial services provider’s stock valued at $1,437,000 after purchasing an additional 26,268 shares during the period. Finally, Rivernorth Capital Management LLC raised its stake in shares of BlackRock MuniYield Michigan Quality Fund by 6.6% during the 3rd 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 during the period. 24.15% of the stock is currently owned by institutional investors.

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.