BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its stake in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 23.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,296 shares of the financial services provider’s stock after selling 15,729 shares during the period. Commonwealth Equity Services LLC owned approximately 0.18% of BlackRock MuniYield Michigan Quality Fund worth $585,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MIY. Stifel Financial Corp boosted its position in shares of BlackRock MuniYield Michigan Quality Fund by 30.4% during the 3rd quarter. Stifel Financial Corp now owns 102,285 shares of the financial services provider’s stock worth $1,228,000 after purchasing an additional 23,850 shares during the period. Rivernorth Capital Management LLC boosted its position in shares of BlackRock MuniYield Michigan Quality Fund by 6.6% during the third quarter. Rivernorth Capital Management LLC now owns 404,338 shares of the financial services provider’s stock worth $4,856,000 after buying an additional 25,000 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the fourth quarter valued at $928,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the 4th quarter valued at $154,000. 24.15% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniYield Michigan Quality Fund Price Performance

MIY opened at $11.46 on Friday. The stock’s 50-day moving average price is $11.53 and its 200 day moving average price is $11.62. BlackRock MuniYield Michigan Quality Fund, Inc. has a 12-month low of $10.97 and a 12-month high of $12.11.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a $0.0545 dividend. This represents a $0.65 annualized dividend and a dividend yield of 5.71%. The ex-dividend date is Tuesday, April 15th.

BlackRock MuniYield Michigan Quality Fund Company Profile

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.