Pointe Capital Management LLC boosted its stake in shares of BR-MUNIYLD MI I (NYSE:MIY) by 8.0% during the second quarter, Holdings Channel reports. The firm owned 82,059 shares of the financial services provider’s stock after buying an additional 6,100 shares during the period. Pointe Capital Management LLC’s holdings in BR-MUNIYLD MI I were worth $1,151,000 as of its most recent filing with the SEC.

Separately, IFP Advisors Inc boosted its position in BR-MUNIYLD MI I by 2.8% in the second quarter. IFP Advisors Inc now owns 23,446 shares of the financial services provider’s stock valued at $329,000 after buying an additional 645 shares during the period. 13.68% of the stock is owned by hedge funds and other institutional investors.

BR-MUNIYLD MI I (NYSE:MIY) opened at 14.10 on Thursday. The firm has a 50-day moving average price of $14.13 and a 200 day moving average price of $13.83. BR-MUNIYLD MI I has a 12-month low of $13.17 and a 12-month high of $15.40.

The firm also recently declared a monthly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a dividend of $0.064 per share. This represents a $0.77 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend is Friday, August 11th.

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BR-MUNIYLD MI I Company Profile

BlackRock MuniYield Michigan Quality Fund, Inc (the Fund) is a non-diversified, closed-end management investment company. The Fund’s investment objective is to provide shareholders with as high a level of current income exempt from federal and Michigan income taxes as is consistent with its investment policies and prudent investment management.

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