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

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) declared a monthly dividend on Monday, November 3rd. Investors of record on Friday, November 14th will be paid a dividend of 0.0545 per share by the financial services provider on Monday, December 1st. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, November 14th.

BlackRock MuniYield Michigan Quality Fund Stock Down 0.4%

MIY stock opened at $11.48 on Tuesday. The stock’s 50 day moving average price is $11.36 and its 200 day moving average price is $11.23. BlackRock MuniYield Michigan Quality Fund has a 1 year low of $10.57 and a 1 year high of $12.09.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Foresight Capital Management Advisors Inc. boosted 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 last quarter. Summit Financial Consulting LLC lifted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 8.1% during the third quarter. Summit Financial Consulting LLC now owns 29,665 shares of the financial services provider’s stock valued at $335,000 after buying an additional 2,221 shares during the period. Axxcess Wealth Management LLC boosted its position in BlackRock MuniYield Michigan Quality Fund by 8.4% during the second quarter. Axxcess Wealth Management LLC now owns 34,700 shares of the financial services provider’s stock worth $383,000 after acquiring an additional 2,700 shares during the last quarter. Capital Asset Advisory Services LLC boosted its position in BlackRock MuniYield Michigan Quality Fund by 8.4% during the second quarter. Capital Asset Advisory Services LLC now owns 34,700 shares of the financial services provider’s stock worth $385,000 after acquiring an additional 2,700 shares during the last quarter. Finally, Melfa Wealth Management Inc. grew its stake in BlackRock MuniYield Michigan Quality Fund by 6.8% in the 2nd quarter. Melfa Wealth Management Inc. now owns 52,790 shares of the financial services provider’s stock worth $583,000 after acquiring an additional 3,363 shares during the period. Institutional investors and hedge funds own 24.15% of the company’s stock.

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.