BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Stock Position Decreased by Sit Investment Associates Inc.

Sit Investment Associates Inc. trimmed its position in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 3.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 386,113 shares of the financial services provider’s stock after selling 12,900 shares during the period. Sit Investment Associates Inc.’s holdings in BlackRock MuniYield Michigan Quality Fund were worth $4,317,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MIY. PNC Financial Services Group Inc. bought a new stake in BlackRock MuniYield Michigan Quality Fund in the fourth quarter worth approximately $154,000. Raymond James Financial Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter valued at $928,000. Stifel Financial Corp lifted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 30.4% in the 3rd quarter. Stifel Financial Corp now owns 102,285 shares of the financial services provider’s stock valued at $1,228,000 after purchasing an additional 23,850 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in BlackRock MuniYield Michigan Quality Fund by 3.2% in the fourth quarter. Wells Fargo & Company MN now owns 117,579 shares of the financial services provider’s stock worth $1,315,000 after purchasing an additional 3,612 shares in the last quarter. Finally, LPL Financial LLC increased its position in BlackRock MuniYield Michigan Quality Fund by 55.4% during the fourth quarter. LPL Financial LLC now owns 117,812 shares of the financial services provider’s stock worth $1,317,000 after buying an additional 41,989 shares during the last quarter. Institutional investors and hedge funds own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Stock Down 1.5 %

Shares of NYSE:MIY opened at $11.46 on Friday. The business has a 50-day moving average of $11.53 and a two-hundred day moving average of $11.62. BlackRock MuniYield Michigan Quality Fund, Inc. has a fifty-two week low of $10.97 and a fifty-two week high of $12.11.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.0545 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.65 dividend on an annualized basis and a yield of 5.71%.

BlackRock MuniYield Michigan Quality Fund Profile

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.