BlackRock MuniYield Michigan Quality Fund, Inc. Announces Monthly Dividend of $0.04 (NYSE:MIY)

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY – Get Rating) announced a monthly dividend on Thursday, December 8th, Wall Street Journal reports. Investors of record on Friday, December 16th will be given a dividend of 0.0405 per share by the financial services provider on Friday, December 30th. This represents a $0.49 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Thursday, December 15th.

BlackRock MuniYield Michigan Quality Fund has increased its dividend by an average of 0.9% per year over the last three years.

BlackRock MuniYield Michigan Quality Fund Stock Performance

MIY stock opened at $11.53 on Friday. BlackRock MuniYield Michigan Quality Fund has a 52-week low of $10.56 and a 52-week high of $15.34. The company’s 50 day simple moving average is $11.51 and its 200-day simple moving average is $12.70.

Institutional Investors Weigh In On BlackRock MuniYield Michigan Quality Fund

Large investors have recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 13.1% during the first quarter. Bank of America Corp DE now owns 276,933 shares of the financial services provider’s stock valued at $3,548,000 after acquiring an additional 32,102 shares during the period. Wells Fargo & Company MN raised its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 36.5% during the second quarter. Wells Fargo & Company MN now owns 219,290 shares of the financial services provider’s stock valued at $2,883,000 after acquiring an additional 58,589 shares during the period. LPL Financial LLC raised its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 1.7% during the second quarter. LPL Financial LLC now owns 99,099 shares of the financial services provider’s stock valued at $1,303,000 after acquiring an additional 1,671 shares during the period. Baird Financial Group Inc. raised its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 1.1% during the first quarter. Baird Financial Group Inc. now owns 87,248 shares of the financial services provider’s stock valued at $1,118,000 after acquiring an additional 991 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 7.8% during the first quarter. Cetera Investment Advisers now owns 61,551 shares of the financial services provider’s stock valued at $788,000 after acquiring an additional 4,441 shares during the period. Institutional investors and hedge funds own 15.86% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Company Profile

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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.