Elequin Capital LP Purchases Shares of 4,342 BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Elequin Capital LP acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,342 shares of the financial services provider’s stock, valued at approximately $49,000.

Several other large investors have also recently modified their holdings of the stock. Nomura Holdings Inc. bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the 4th quarter valued at about $135,000. PNC Financial Services Group Inc. purchased a new position in BlackRock MuniYield Michigan Quality Fund in the 4th quarter worth approximately $154,000. Bank of Montreal Can lifted its position in BlackRock MuniYield Michigan Quality Fund by 4.8% in the fourth quarter. Bank of Montreal Can now owns 19,740 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 913 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 91.0% during the fourth quarter. Baird Financial Group Inc. now owns 38,513 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 18,351 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund in the fourth quarter worth approximately $928,000. Hedge funds and other institutional investors own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Stock Down 1.0%

Shares of NYSE MIY opened at $11.29 on Thursday. The firm’s fifty day moving average is $11.33 and its 200 day moving average is $11.49. BlackRock MuniYield Michigan Quality Fund, Inc. has a 52 week low of $10.81 and a 52 week high of $12.11.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be given a $0.0545 dividend. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date of this dividend is Thursday, May 15th.

About BlackRock MuniYield Michigan Quality Fund

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.