ARTESIAN RES CORP

Ticker: ARTNA CUSIP: 043113208 Class: Common Stock

Municipal Employees' Retirement System of Michigan's Holding History (CIK: 0001588873)

Note: Option positions (PUT/CALL) are excluded.

Q3 2017

Shares 9,450 Value ($000) $357 Avg Close $29.58 Range $28.20 - $31.49

Q2 2017

Shares 9,450 Value ($000) $356 Avg Close $29.27 Range $25.15 - $32.83

Q1 2017

Shares 9,450 Value ($000) $308 Avg Close $24.71 Range $22.70 - $26.86

Q4 2016

Shares 9,450 Value ($000) $302 Avg Close $23.20 Range $20.48 - $25.50

Q3 2016

Shares 9,450 Value ($000) $270 Avg Close $23.49 Range $20.14 - $26.64

Q2 2016

Shares 9,450 Value ($000) $321 Avg Close $21.82 Range $19.81 - $25.84

Q1 2016

Shares 150 Value ($000) $4 Avg Close $21.01 Range $19.01 - $23.93

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2017	9,450	$357	$29.58	$28.20 - $31.49
Q2 2017	9,450	$356	$29.27	$25.15 - $32.83
Q1 2017	9,450	$308	$24.71	$22.70 - $26.86
Q4 2016	9,450	$302	$23.20	$20.48 - $25.50
Q3 2016	9,450	$270	$23.49	$20.14 - $26.64
Q2 2016	9,450	$321	$21.82	$19.81 - $25.84
Q1 2016	150	$4	$21.01	$19.01 - $23.93