BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. trimmed its holdings in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 386,113 shares of the financial services provider’s stock after selling 12,900 shares during the period. Sit Investment Associates Inc. owned about 1.32% of BlackRock MuniYield Michigan Quality Fund worth $4,317,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in BlackRock MuniYield Michigan Quality Fund during the 4th quarter worth about $928,000. LPL Financial LLC increased its position in shares of BlackRock MuniYield Michigan Quality Fund by 55.4% in the fourth quarter. LPL Financial LLC now owns 117,812 shares of the financial services provider’s stock worth $1,317,000 after acquiring an additional 41,989 shares in the last quarter. Rivernorth Capital Management LLC raised its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 6.6% during the third quarter. Rivernorth Capital Management LLC now owns 404,338 shares of the financial services provider’s stock valued at $4,856,000 after acquiring an additional 25,000 shares during the period. Stifel Financial Corp lifted its position in shares of BlackRock MuniYield Michigan Quality Fund by 30.4% in the 3rd quarter. Stifel Financial Corp now owns 102,285 shares of the financial services provider’s stock valued at $1,228,000 after acquiring an additional 23,850 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in BlackRock MuniYield Michigan Quality Fund in the 4th quarter worth approximately $154,000. Institutional investors and hedge funds own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Trading Down 1.5 %

NYSE MIY opened at $11.46 on Friday. The firm’s 50 day moving average price is $11.53 and its two-hundred day moving average price is $11.62. BlackRock MuniYield Michigan Quality Fund, Inc. has a twelve month low of $10.97 and a twelve month high of $12.11.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a dividend of $0.0545 per share. This represents a $0.65 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend is Tuesday, April 15th.

BlackRock MuniYield Michigan Quality Fund 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.