BlackRock MuniYield Michigan Quality Fund, Inc. $MIY Stock Holdings Increased by Parallel Advisors LLC

Parallel Advisors LLC lifted its stake in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 166.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 128,421 shares of the financial services provider’s stock after purchasing an additional 80,177 shares during the quarter. Parallel Advisors LLC owned about 0.44% of BlackRock MuniYield Michigan Quality Fund worth $1,450,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in MIY. Kestra Advisory Services LLC grew its stake in BlackRock MuniYield Michigan Quality Fund by 1.3% during the 1st quarter. Kestra Advisory Services LLC now owns 346,343 shares of the financial services provider’s stock worth $4,115,000 after buying an additional 4,291 shares during the last quarter. FSA Advisors Inc. increased its position in BlackRock MuniYield Michigan Quality Fund by 10.7% in the first quarter. FSA Advisors Inc. now owns 226,124 shares of the financial services provider’s stock worth $2,686,000 after buying an additional 21,879 shares during the period. Foresight Capital Management Advisors Inc. lifted its stake in BlackRock MuniYield Michigan Quality Fund by 8.8% in the second quarter. Foresight Capital Management Advisors Inc. now owns 39,991 shares of the financial services provider’s stock valued at $491,000 after buying an additional 3,225 shares during the last quarter. Summit Financial Consulting LLC lifted its stake in BlackRock MuniYield Michigan Quality Fund by 4.9% in the third quarter. Summit Financial Consulting LLC now owns 41,515 shares of the financial services provider’s stock valued at $469,000 after buying an additional 1,947 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its stake in BlackRock MuniYield Michigan Quality Fund by 5.1% in the second quarter. Baird Financial Group Inc. now owns 36,198 shares of the financial services provider’s stock valued at $444,000 after buying an additional 1,754 shares during the last quarter. Institutional investors own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Price Performance

Shares of MIY opened at $12.27 on Tuesday. BlackRock MuniYield Michigan Quality Fund, Inc. has a 1 year low of $11.01 and a 1 year high of $12.90. The firm has a fifty day moving average of $11.92 and a 200-day moving average of $12.12.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a $0.0545 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.65 annualized dividend and a yield of 5.3%.

BlackRock MuniYield Michigan Quality Fund Company Profile

BlackRock MuniYield Michigan Quality Fund, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol MIY. The fund seeks to provide investors with current income that is exempt from federal income tax and Michigan personal income tax, subject to applicable tax rules.

The fund invests primarily in long-term municipal obligations issued by or on behalf of the state of Michigan, its municipalities, and other governmental entities. Its portfolio may include bonds financing public infrastructure and essential services, such as education, transportation, utilities, health care, and housing.

BlackRock Advisors, LLC, an affiliate of BlackRock, manages the fund.