BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) to Issue Monthly Dividend of $0.05

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) announced a monthly dividend on Friday, December 12th. Investors of record on Monday, December 22nd will be paid a dividend of 0.0545 per share by the financial services provider on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Monday, December 22nd.

BlackRock MuniYield Michigan Quality Fund Price Performance

Shares of MIY stock traded down $0.11 on Friday, reaching $11.58. 184,825 shares of the company’s stock were exchanged, compared to its average volume of 62,191. The company’s fifty day simple moving average is $11.60 and its 200 day simple moving average is $11.30. BlackRock MuniYield Michigan Quality Fund has a 52 week low of $10.57 and a 52 week high of $11.89.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MIY. Melone Private Wealth LLC boosted its position in BlackRock MuniYield Michigan Quality Fund by 2.3% in the 2nd quarter. Melone Private Wealth LLC now owns 377,621 shares of the financial services provider’s stock valued at $4,131,000 after buying an additional 8,364 shares during the period. Bank of America Corp DE raised its stake in shares of BlackRock MuniYield Michigan Quality Fund by 1.7% during the third quarter. Bank of America Corp DE now owns 297,871 shares of the financial services provider’s stock valued at $3,360,000 after acquiring an additional 4,943 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 19.6% in the first quarter. Kestra Advisory Services LLC now owns 255,984 shares of the financial services provider’s stock valued at $2,913,000 after purchasing an additional 41,945 shares during the period. FSA Advisors Inc. grew its stake in BlackRock MuniYield Michigan Quality Fund by 117.0% in the second quarter. FSA Advisors Inc. now owns 218,413 shares of the financial services provider’s stock worth $2,411,000 after purchasing an additional 117,754 shares in the last quarter. Finally, Raymond James Financial Inc. grew its stake in BlackRock MuniYield Michigan Quality Fund by 30.3% in the third quarter. Raymond James Financial Inc. now owns 126,408 shares of the financial services provider’s stock worth $1,426,000 after purchasing an additional 29,411 shares in the last quarter. Hedge funds and other institutional investors own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Company Profile

BlackRock MuniYield Michigan Quality Fund (NYSE: MIY) is a closed-end management investment company that seeks to provide current income exempt from federal and Michigan personal income taxes. The fund primarily invests in investment-grade municipal securities issued by state and local governments within Michigan. Its portfolio typically includes a diversified mix of general obligation bonds and revenue bonds backed by public utilities, transportation projects, and other essential municipal services.

The fund’s investment strategy emphasizes credit quality and diversification across sectors and maturities.