BlackRock MuniYield Michigan Quality Fund (NYSE:MIY) Stock Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $12.12 and traded as low as $11.87. BlackRock MuniYield Michigan Quality Fund shares last traded at $12.08, with a volume of 98,879 shares.

BlackRock MuniYield Michigan Quality Fund Price Performance

The firm has a 50-day moving average of $11.89 and a 200 day moving average of $12.12.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given 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.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Baird Financial Group Inc. raised its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 5.1% in the 2nd quarter. Baird Financial Group Inc. now owns 36,198 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 1,754 shares in the last quarter. Harbour Investments Inc. grew its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 23.4% in the 3rd quarter. Harbour Investments Inc. now owns 9,500 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 1,800 shares during the last quarter. Summit Financial Consulting LLC raised its position 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 worth $469,000 after purchasing an additional 1,947 shares during the period. William Mack & Associates Inc. purchased a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the third quarter valued at $26,000. Finally, MeadowBrook Investment Advisors LLC boosted its position in shares of 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 valued at $84,000 after purchasing an additional 2,400 shares during the period. Institutional investors and hedge funds 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 fund managed by BlackRock Advisors, LLC. Rather than operating a traditional business, the fund invests in a portfolio of municipal securities. The fund’s primary objective is to provide current income exempt from regular federal income tax and Michigan personal income tax, while seeking to preserve capital. It invests mainly in municipal obligations, with a focus on securities whose income receives the relevant tax exemptions.