Transcend Capital Advisors LLC Cuts Position in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Transcend Capital Advisors LLC decreased its holdings in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 28.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 39,800 shares of the financial services provider’s stock after selling 15,488 shares during the quarter. Transcend Capital Advisors LLC’s holdings in BlackRock MuniYield Michigan Quality Fund were worth $452,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. AQR Arbitrage LLC raised its holdings in BlackRock MuniYield Michigan Quality Fund by 90.2% in the third quarter. AQR Arbitrage LLC now owns 205,914 shares of the financial services provider’s stock valued at $2,045,000 after buying an additional 97,635 shares during the period. Robinson Capital Management LLC raised its holdings in BlackRock MuniYield Michigan Quality Fund by 13.0% in the third quarter. Robinson Capital Management LLC now owns 389,193 shares of the financial services provider’s stock valued at $3,853,000 after buying an additional 44,837 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in BlackRock MuniYield Michigan Quality Fund by 5.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 69,720 shares of the financial services provider’s stock valued at $792,000 after buying an additional 3,904 shares during the period. Axxcess Wealth Management LLC purchased a new position in BlackRock MuniYield Michigan Quality Fund in the third quarter valued at approximately $143,000. Finally, Foresight Capital Management Advisors Inc. purchased a new position in BlackRock MuniYield Michigan Quality Fund in the fourth quarter valued at approximately $195,000. Hedge funds and other institutional investors own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Trading Up 0.2 %

MIY opened at $11.04 on Tuesday. The firm’s 50 day moving average is $11.39 and its 200-day moving average is $11.07. BlackRock MuniYield Michigan Quality Fund, Inc. has a 52-week low of $9.45 and a 52-week high of $11.70.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be paid a dividend of $0.0465 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.05%.

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.