BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Announces Monthly Dividend of $0.05
by Michael Walen · The Markets DailyBlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY – Get Free Report) announced a monthly dividend on Friday, February 27th. Stockholders of record on Wednesday, April 15th will be given a dividend of 0.0545 per share by the financial services provider on Friday, May 1st. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Wednesday, April 15th.
BlackRock MuniYield Michigan Quality Fund Price Performance
MIY stock opened at $12.12 on Monday. BlackRock MuniYield Michigan Quality Fund has a twelve month low of $10.57 and a twelve month high of $12.90. The firm has a 50 day simple moving average of $12.21 and a 200-day simple moving average of $11.86.
Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund
Hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC lifted its stake in BlackRock MuniYield Michigan Quality Fund by 8.8% in the fourth quarter. Kestra Advisory Services LLC now owns 342,052 shares of the financial services provider’s stock valued at $4,016,000 after buying an additional 27,764 shares during the last quarter. Bank of America Corp DE lifted its stake in BlackRock MuniYield Michigan Quality Fund by 1.7% in the third quarter. Bank of America Corp DE now owns 297,871 shares of the financial services provider’s stock valued at $3,360,000 after buying an additional 4,943 shares during the last quarter. Stifel Financial Corp lifted its stake in BlackRock MuniYield Michigan Quality Fund by 5.3% in the fourth quarter. Stifel Financial Corp now owns 172,694 shares of the financial services provider’s stock valued at $2,027,000 after buying an additional 8,639 shares during the last quarter. LPL Financial LLC lifted its stake in BlackRock MuniYield Michigan Quality Fund by 41.5% in the fourth quarter. LPL Financial LLC now owns 160,413 shares of the financial services provider’s stock valued at $1,883,000 after buying an additional 47,044 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in BlackRock MuniYield Michigan Quality Fund by 1.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 138,143 shares of the financial services provider’s stock valued at $1,622,000 after buying an additional 1,661 shares during the last quarter. Institutional investors and hedge funds own 24.15% of the company’s stock.
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.