Melone Private Wealth LLC Buys 1,809 Shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Melone Private Wealth LLC boosted its stake in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 378,496 shares of the financial services provider’s stock after buying an additional 1,809 shares during the period. BlackRock MuniYield Michigan Quality Fund makes up about 2.4% of Melone Private Wealth LLC’s investment portfolio, making the stock its 17th largest holding. Melone Private Wealth LLC owned 1.29% of BlackRock MuniYield Michigan Quality Fund worth $4,546,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cetera Investment Advisers bought a new position in shares of BlackRock MuniYield Michigan Quality Fund in the first quarter worth approximately $2,026,000. Allspring Global Investments Holdings LLC boosted its stake in BlackRock MuniYield Michigan Quality Fund by 52.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 205,905 shares of the financial services provider’s stock valued at $2,356,000 after purchasing an additional 70,823 shares during the last quarter. Rockport Wealth LLC bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the 1st quarter worth $222,000. Scarborough Advisors LLC purchased a new position in shares of BlackRock MuniYield Michigan Quality Fund in the fourth quarter worth $79,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 66,102 shares of the financial services provider’s stock valued at $756,000 after purchasing an additional 3,405 shares in the last quarter. Hedge funds and other institutional investors own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Trading Down 0.2 %

Shares of BlackRock MuniYield Michigan Quality Fund stock traded down $0.02 during trading on Monday, hitting $11.96. 11,745 shares of the company’s stock traded hands, compared to its average volume of 51,219. BlackRock MuniYield Michigan Quality Fund, Inc. has a 1 year low of $9.45 and a 1 year high of $12.11. The business has a 50-day simple moving average of $11.81 and a 200-day simple moving average of $11.51.

BlackRock MuniYield Michigan Quality Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.0545 per share. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend is Tuesday, October 15th. This is an increase from BlackRock MuniYield Michigan Quality Fund’s previous monthly dividend of $0.05.

About BlackRock MuniYield Michigan Quality Fund

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.