Melone Private Wealth LLC Sells 70,620 Shares of BlackRock MuniYield Michigan Quality Fund, Inc. $MIY

Melone Private Wealth LLC lowered its holdings in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 18.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 307,001 shares of the financial services provider’s stock after selling 70,620 shares during the period. BlackRock MuniYield Michigan Quality Fund comprises about 1.6% of Melone Private Wealth LLC’s investment portfolio, making the stock its 20th biggest position. Melone Private Wealth LLC owned 1.06% of BlackRock MuniYield Michigan Quality Fund worth $3,463,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Summit Financial Consulting LLC lifted its stake in BlackRock MuniYield Michigan Quality Fund by 8.1% in the third quarter. Summit Financial Consulting LLC now owns 29,665 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 2,221 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 8.6% in the second quarter. Bank of America Corp DE now owns 292,928 shares of the financial services provider’s stock worth $3,234,000 after buying an additional 23,207 shares during the period. Raymond James Financial Inc. lifted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 17.3% in the 2nd quarter. Raymond James Financial Inc. now owns 96,997 shares of the financial services provider’s stock valued at $1,071,000 after acquiring an additional 14,321 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the 2nd quarter valued at about $61,000. Finally, FSA Advisors Inc. boosted its holdings in BlackRock MuniYield Michigan Quality Fund by 117.0% during the 2nd quarter. FSA Advisors Inc. now owns 218,413 shares of the financial services provider’s stock valued at $2,411,000 after acquiring an additional 117,754 shares during the period. Hedge funds and other institutional investors own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Stock Performance

MIY opened at $11.53 on Monday. The stock’s 50 day simple moving average is $11.60 and its 200 day simple moving average is $11.31. BlackRock MuniYield Michigan Quality Fund, Inc. has a 1 year low of $10.57 and a 1 year high of $11.89.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be issued a $0.0545 dividend. The ex-dividend date is Monday, December 22nd. This represents a c) annualized dividend and a dividend yield of 5.7%.

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.