Commonwealth Equity Services LLC Boosts Stock Holdings in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Commonwealth Equity Services LLC increased its stake in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 5.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,102 shares of the financial services provider’s stock after acquiring an additional 3,405 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.23% of BlackRock MuniYield Michigan Quality Fund worth $756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Cetera Investment Advisers purchased a new position in BlackRock MuniYield Michigan Quality Fund during the 1st quarter valued at $2,026,000. Allspring Global Investments Holdings LLC boosted its position in BlackRock MuniYield Michigan Quality Fund by 52.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 205,905 shares of the financial services provider’s stock valued at $2,356,000 after acquiring an additional 70,823 shares in the last quarter. Scarborough Advisors LLC purchased a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter worth approximately $79,000. Rockport Wealth LLC bought a new position in shares of BlackRock MuniYield Michigan Quality Fund in the 1st quarter worth approximately $222,000. Finally, Capital Asset Advisory Services LLC lifted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 7.7% in the 1st quarter. Capital Asset Advisory Services LLC now owns 18,150 shares of the financial services provider’s stock valued at $209,000 after purchasing an additional 1,300 shares during the period. 24.15% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniYield Michigan Quality Fund Price Performance

NYSE:MIY opened at $11.91 on Thursday. BlackRock MuniYield Michigan Quality Fund, Inc. has a one year low of $9.45 and a one year high of $12.05. The company’s 50-day simple moving average is $11.70 and its 200 day simple moving average is $11.47.

BlackRock MuniYield Michigan Quality Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.0545 per share. This represents a $0.65 annualized dividend and a yield of 5.49%. This is an increase from BlackRock MuniYield Michigan Quality Fund’s previous monthly dividend of $0.05. The ex-dividend date is Tuesday, October 15th.

BlackRock MuniYield Michigan Quality Fund Profile

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.