Raymond James Financial Inc. Makes New Investment in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Posted by Defense World Staff on Apr 5th, 2025

Raymond James Financial Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 82,977 shares of the financial services provider’s stock, valued at approximately $928,000. Raymond James Financial Inc. owned approximately 0.28% of BlackRock MuniYield Michigan Quality Fund as of its most recent SEC filing.

Separately, Stifel Financial Corp grew its stake in 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 valued at $1,228,000 after acquiring an additional 23,850 shares in the last quarter. 24.15% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock MuniYield Michigan Quality Fund Trading Down 1.5 %

MIY stock opened at $11.46 on Friday. The firm has a 50-day moving average of $11.53 and a two-hundred day moving average of $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 Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a dividend of $0.0545 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.65 dividend on an annualized basis and a yield of 5.71%.

About BlackRock MuniYield Michigan Quality Fund

(Free Report)

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.