Stifel Financial Corp Boosts Stake in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Stifel Financial Corp boosted its holdings in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 30.4% in the 3rd quarter, Holdings Channel reports. The fund owned 102,285 shares of the financial services provider’s stock after acquiring an additional 23,850 shares during the quarter. Stifel Financial Corp’s holdings in BlackRock MuniYield Michigan Quality Fund were worth $1,228,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Melone Private Wealth LLC boosted its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 0.5% during the 3rd quarter. Melone Private Wealth LLC now owns 378,496 shares of the financial services provider’s stock worth $4,546,000 after purchasing an additional 1,809 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in BlackRock MuniYield Michigan Quality Fund by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 66,102 shares of the financial services provider’s stock worth $756,000 after buying an additional 3,405 shares in the last quarter. Cetera Investment Advisers boosted its stake in BlackRock MuniYield Michigan Quality Fund by 2.0% during the second quarter. Cetera Investment Advisers now owns 179,534 shares of the financial services provider’s stock worth $2,054,000 after buying an additional 3,511 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in BlackRock MuniYield Michigan Quality Fund by 2.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 211,192 shares of the financial services provider’s stock valued at $2,536,000 after buying an additional 5,287 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the 2nd quarter worth $127,000. Hedge funds and other institutional investors own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Price Performance

Shares of MIY stock opened at $11.36 on Monday. BlackRock MuniYield Michigan Quality Fund, Inc. has a twelve month low of $10.96 and a twelve month high of $12.11. The company’s 50-day moving average price is $11.73 and its 200-day moving average price is $11.69.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.0545 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.65 annualized dividend and a yield of 5.76%.

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.