BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Plans Monthly Dividend of $0.05

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) declared a monthly dividend on Monday, November 3rd. Shareholders of record on Friday, November 14th will be given a dividend of 0.0545 per share by the financial services provider on Monday, December 1st. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Friday, November 14th.

BlackRock MuniYield Michigan Quality Fund Price Performance

MIY stock opened at $11.48 on Tuesday. The stock’s 50 day simple moving average is $11.36 and its 200 day simple moving average is $11.23. BlackRock MuniYield Michigan Quality Fund has a 12-month low of $10.57 and a 12-month high of $12.09.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Oliver Lagore Vanvalin Investment Group acquired a new stake in BlackRock MuniYield Michigan Quality Fund during the second quarter worth about $46,000. PNC Financial Services Group Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the second quarter valued at approximately $61,000. Wolverine Asset Management LLC acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the 3rd quarter worth approximately $84,000. Shufro Rose & Co. LLC lifted its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 40.0% in the 1st quarter. Shufro Rose & Co. LLC now owns 17,500 shares of the financial services provider’s stock worth $199,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Summit Financial Consulting LLC lifted its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 10.7% in the 2nd quarter. Summit Financial Consulting LLC now owns 27,444 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 2,643 shares during the last quarter. 24.15% of the stock is owned by institutional investors and hedge funds.

BlackRock MuniYield Michigan Quality Fund Company 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.