Raymond James Financial Services Advisors Inc. Increases Stock Position in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Raymond James Financial Services Advisors Inc. lifted its holdings in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 5.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 69,720 shares of the financial services provider’s stock after acquiring an additional 3,904 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in BlackRock MuniYield Michigan Quality Fund were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Moody National Bank Trust Division bought a new position in shares of BlackRock MuniYield Michigan Quality Fund in the 3rd quarter worth $100,000. Virtu Financial LLC bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter valued at $111,000. Simon Quick Advisors LLC bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 3rd quarter valued at $112,000. West Michigan Advisors LLC bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 1st quarter valued at $161,000. Finally, Bank of Montreal Can bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 1st quarter valued at $180,000. 24.15% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock MuniYield Michigan Quality Fund Stock Down 0.3 %

MIY stock opened at $11.13 on Wednesday. BlackRock MuniYield Michigan Quality Fund, Inc. has a 52 week low of $9.45 and a 52 week high of $11.70. The firm’s fifty day moving average is $11.46 and its 200 day moving average is $10.98.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a dividend of $0.0465 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, April 12th.

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.