Melone Private Wealth LLC Trims Holdings in BlackRock MuniYield Michigan Quality Fund, Inc. $MIY

Melone Private Wealth LLC decreased its position in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 23.1% during the second quarter, Holdings Channel.com reports. The fund owned 216,071 shares of the financial services provider’s stock after selling 64,823 shares during the quarter. BlackRock MuniYield Michigan Quality Fund accounts for 1.0% of Melone Private Wealth LLC’s investment portfolio, making the stock its 25th largest holding. Melone Private Wealth LLC’s holdings in BlackRock MuniYield Michigan Quality Fund were worth $2,651,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Regal Investment Advisors LLC purchased a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the third quarter worth $146,000. Parallel Advisors LLC bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the 1st quarter valued at $443,000. Foresight Capital Management Advisors Inc. lifted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 8.8% during the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 39,991 shares of the financial services provider’s stock valued at $491,000 after buying an additional 3,225 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 1st quarter valued at $61,000. Finally, FSA Advisors Inc. boosted its holdings in BlackRock MuniYield Michigan Quality Fund by 10.7% in the 1st quarter. FSA Advisors Inc. now owns 226,124 shares of the financial services provider’s stock worth $2,686,000 after buying an additional 21,879 shares during the period. Hedge funds and other institutional investors own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Trading Up 0.2%

Shares of MIY stock opened at $12.21 on Monday. BlackRock MuniYield Michigan Quality Fund, Inc. has a 52-week low of $10.97 and a 52-week high of $12.90. The stock has a fifty day simple moving average of $12.20 and a two-hundred day simple moving average of $12.14.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a $0.0545 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%.

BlackRock MuniYield Michigan Quality Fund Company Profile

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.