BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Holdings Lifted by LPL Financial LLC

LPL Financial LLC lifted its stake in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 55.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,812 shares of the financial services provider’s stock after purchasing an additional 41,989 shares during the quarter. LPL Financial LLC owned about 0.40% of BlackRock MuniYield Michigan Quality Fund worth $1,317,000 at the end of the most recent reporting period.

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

BlackRock MuniYield Michigan Quality Fund Price Performance

MIY opened at $11.10 on Friday. The business has a fifty day simple moving average of $11.42 and a 200-day simple moving average of $11.56. BlackRock MuniYield Michigan Quality Fund, Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $12.11.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.0545 per share. The ex-dividend date is Tuesday, April 15th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.89%.

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.