BlackRock MuniYield Michigan Quality Fund, Inc. $MIY Stake Increased by Kestra Advisory Services LLC

Kestra Advisory Services LLC boosted its stake in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 19.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,984 shares of the financial services provider’s stock after acquiring an additional 41,945 shares during the period. Kestra Advisory Services LLC owned 0.87% of BlackRock MuniYield Michigan Quality Fund worth $2,913,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the 4th quarter valued at about $928,000. Stifel Financial Corp increased its holdings in BlackRock MuniYield Michigan Quality Fund by 25.7% in the fourth quarter. Stifel Financial Corp now owns 128,553 shares of the financial services provider’s stock valued at $1,437,000 after buying an additional 26,268 shares during the last quarter. Bank of America Corp DE increased its holdings in BlackRock MuniYield Michigan Quality Fund by 11.8% in the fourth quarter. Bank of America Corp DE now owns 268,116 shares of the financial services provider’s stock valued at $2,998,000 after buying an additional 28,252 shares during the last quarter. Baird Financial Group Inc. raised its stake in BlackRock MuniYield Michigan Quality Fund by 91.0% during the fourth quarter. Baird Financial Group Inc. now owns 38,513 shares of the financial services provider’s stock valued at $431,000 after buying an additional 18,351 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new position in BlackRock MuniYield Michigan Quality Fund during the 4th quarter worth approximately $135,000. 24.15% of the stock is owned by institutional investors and hedge funds.

BlackRock MuniYield Michigan Quality Fund Trading Up 0.4%

Shares of MIY opened at $11.14 on Thursday. BlackRock MuniYield Michigan Quality Fund, Inc. has a 52 week low of $10.57 and a 52 week high of $12.11. The stock has a 50 day moving average of $11.01 and a 200-day moving average of $11.25.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be issued a $0.0545 dividend. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Friday, August 15th.

BlackRock MuniYield Michigan Quality Fund Company 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.