Cwm LLC Trims Stock Position in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Cwm LLC lowered its stake in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 40.9% in the third quarter, HoldingsChannel reports. The fund owned 8,812 shares of the financial services provider’s stock after selling 6,100 shares during the quarter. Cwm LLC’s holdings in BlackRock MuniYield Michigan Quality Fund were worth $106,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Axxcess Wealth Management LLC lifted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 7.7% in the 1st quarter. Axxcess Wealth Management LLC now owns 18,150 shares of the financial services provider’s stock valued at $209,000 after purchasing an additional 1,300 shares in the last quarter. Capital Asset Advisory Services LLC increased its position in shares of BlackRock MuniYield Michigan Quality Fund by 7.7% in the first quarter. Capital Asset Advisory Services LLC now owns 18,150 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 1,300 shares in the last quarter. Melone Private Wealth LLC boosted its position in 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 period. Commonwealth Equity Services LLC raised its position in BlackRock MuniYield Michigan Quality Fund by 5.4% in the second quarter. Commonwealth Equity Services LLC now owns 66,102 shares of the financial services provider’s stock valued at $756,000 after purchasing an additional 3,405 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of 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 purchasing an additional 3,511 shares in the last quarter. 24.15% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock MuniYield Michigan Quality Fund Trading Up 1.0 %

MIY stock opened at $11.70 on Friday. The stock has a 50-day simple moving average of $11.86 and a 200-day simple moving average of $11.55. BlackRock MuniYield Michigan Quality Fund, Inc. has a 1 year low of $9.45 and a 1 year high of $12.11.

BlackRock MuniYield Michigan Quality Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.0545 per share. This is a boost from BlackRock MuniYield Michigan Quality Fund’s previous monthly dividend of $0.05. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.59%. 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.