BlackRock MuniYield Michigan Quality Fund (NYSE:MIY) Share Price Breaks Above Two Hundred Day Moving Average – What’s Next?

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $12.11 and traded as high as $12.18. BlackRock MuniYield Michigan Quality Fund shares last traded at $12.1820, with a volume of 44,780 shares.

BlackRock MuniYield Michigan Quality Fund Stock Performance

The stock has a 50-day moving average of $11.95 and a 200-day moving average of $12.11.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be paid a $0.0545 dividend. This represents a $0.65 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Friday, November 13th.

Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund

Institutional investors have recently modified their holdings of the company. MeadowBrook Investment Advisors LLC grew its position in BlackRock MuniYield Michigan Quality Fund by 50.6% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 7,146 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 2,400 shares during the last quarter. William Mack & Associates Inc. bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the third quarter valued at approximately $26,000. Summit Financial Consulting LLC raised its holdings in shares of 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 last quarter. Baird Financial Group Inc. raised its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 5.1% during the second quarter. Baird Financial Group Inc. now owns 36,198 shares of the financial services provider’s stock valued at $444,000 after buying an additional 1,754 shares during the last quarter. Finally, Foresight Capital Management Advisors Inc. boosted its position in shares of BlackRock MuniYield Michigan Quality Fund by 8.8% during 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 during the period. Institutional investors own 24.15% of the company’s stock.

About BlackRock MuniYield Michigan Quality Fund

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.