BlackRock MuniYield Michigan Quality Fund, Inc. to Issue Monthly Dividend of $0.05 (NYSE:MIY)

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) declared a monthly dividend on Friday, January 2nd. Shareholders of record on Tuesday, January 20th will be paid a dividend of 0.0545 per share by the financial services provider on Monday, February 2nd. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, January 20th.

BlackRock MuniYield Michigan Quality Fund Price Performance

BlackRock MuniYield Michigan Quality Fund stock opened at $12.20 on Friday. The company’s 50-day moving average price is $11.73 and its two-hundred day moving average price is $11.40. BlackRock MuniYield Michigan Quality Fund has a 52 week low of $10.57 and a 52 week high of $12.32.

Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund

Several large investors have recently modified their holdings of the stock. Oliver Lagore Vanvalin Investment Group acquired a new stake in BlackRock MuniYield Michigan Quality Fund during the 2nd quarter worth approximately $46,000. Melfa Wealth Management Inc. boosted its holdings in BlackRock MuniYield Michigan Quality Fund by 6.8% during the second quarter. Melfa Wealth Management Inc. now owns 52,790 shares of the financial services provider’s stock worth $583,000 after purchasing an additional 3,363 shares during the last quarter. Foresight Capital Management Advisors Inc. raised its stake in shares of BlackRock MuniYield Michigan Quality Fund by 8.3% during the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 28,723 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 2,199 shares during the period. Axxcess Wealth Management LLC increased its position in BlackRock MuniYield Michigan Quality Fund by 8.4% in the second quarter. Axxcess Wealth Management LLC now owns 34,700 shares of the financial services provider’s stock worth $383,000 after buying an additional 2,700 shares during the last quarter. Finally, FSA Advisors Inc. boosted its holdings in BlackRock MuniYield Michigan Quality Fund by 117.0% in the 2nd quarter. FSA Advisors Inc. now owns 218,413 shares of the financial services provider’s stock worth $2,411,000 after buying an additional 117,754 shares during the period. 24.15% of the stock is owned by institutional investors.

About BlackRock MuniYield Michigan Quality Fund

BlackRock MuniYield Michigan Quality Fund (NYSE: MIY) is a closed-end management investment company that seeks to provide current income exempt from federal and Michigan personal income taxes. The fund primarily invests in investment-grade municipal securities issued by state and local governments within Michigan. Its portfolio typically includes a diversified mix of general obligation bonds and revenue bonds backed by public utilities, transportation projects, and other essential municipal services.

The fund’s investment strategy emphasizes credit quality and diversification across sectors and maturities.