BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY – Get Free Report) announced a monthly dividend on Friday, February 27th. Stockholders of record on Friday, May 15th will be given a dividend of 0.0545 per share by the financial services provider on Monday, June 1st. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Friday, May 15th.
BlackRock MuniYield Michigan Quality Fund Stock Performance
Shares of NYSE MIY opened at $11.95 on Wednesday. The company has a 50 day simple moving average of $12.07 and a 200-day simple moving average of $11.94. BlackRock MuniYield Michigan Quality Fund has a 1 year low of $10.57 and a 1 year high of $12.90.
Institutional Investors Weigh In On BlackRock MuniYield Michigan Quality Fund
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC raised its position in BlackRock MuniYield Michigan Quality Fund by 41.5% in the fourth quarter. LPL Financial LLC now owns 160,413 shares of the financial services provider’s stock valued at $1,883,000 after purchasing an additional 47,044 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 3rd quarter worth $492,000. Parallel Advisors LLC purchased a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 1st quarter worth $443,000. Raymond James Financial Inc. increased its position in shares of BlackRock MuniYield Michigan Quality Fund by 30.3% during the 3rd quarter. Raymond James Financial Inc. now owns 126,408 shares of the financial services provider’s stock worth $1,426,000 after purchasing an additional 29,411 shares during the last quarter. Finally, Kestra Advisory Services LLC increased its position in shares of BlackRock MuniYield Michigan Quality Fund by 8.8% during the 4th quarter. Kestra Advisory Services LLC now owns 342,052 shares of the financial services provider’s stock worth $4,016,000 after purchasing an additional 27,764 shares during the last quarter. Institutional investors and hedge funds own 24.15% of the company’s stock.
About BlackRock MuniYield Michigan Quality Fund
BlackRock MuniYield Michigan Quality Fund (NYSE: MIY) is a closed-end management investment company that seeks to provide current income exempt from federal and Michigan personal income taxes. The fund primarily invests in investment-grade municipal securities issued by state and local governments within Michigan. Its portfolio typically includes a diversified mix of general obligation bonds and revenue bonds backed by public utilities, transportation projects, and other essential municipal services.
The fund’s investment strategy emphasizes credit quality and diversification across sectors and maturities.
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