BlackRock MuniYield Michigan Quality Fund, Inc. $MIY Shares Acquired by FSA Advisors Inc.

FSA Advisors Inc. grew its stake in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 117.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 218,413 shares of the financial services provider’s stock after purchasing an additional 117,754 shares during the period. BlackRock MuniYield Michigan Quality Fund comprises 2.0% of FSA Advisors Inc.’s investment portfolio, making the stock its 6th biggest position. FSA Advisors Inc.’s holdings in BlackRock MuniYield Michigan Quality Fund were worth $2,411,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MIY. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund in the 2nd quarter valued at about $46,000. Shufro Rose & Co. LLC lifted its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 40.0% in the 1st quarter. Shufro Rose & Co. LLC now owns 17,500 shares of the financial services provider’s stock valued at $199,000 after buying an additional 5,000 shares during the period. Summit Financial Consulting LLC acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund in the 1st quarter valued at about $282,000. Foresight Capital Management Advisors Inc. lifted its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 8.3% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 28,723 shares of the financial services provider’s stock valued at $317,000 after buying an additional 2,199 shares during the period. Finally, Axxcess Wealth Management LLC lifted its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 66.2% in the 1st quarter. Axxcess Wealth Management LLC now owns 32,000 shares of the financial services provider’s stock valued at $364,000 after buying an additional 12,750 shares during the period. Institutional investors and hedge funds own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Price Performance

Shares of MIY stock opened at $11.47 on Wednesday. The business has a 50-day simple moving average of $11.34 and a 200-day simple moving average of $11.22. BlackRock MuniYield Michigan Quality Fund, Inc. has a 52-week low of $10.57 and a 52-week high of $12.09.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be issued a $0.0545 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 5.7%.

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.