Sit Investment Associates Inc. Sells 13,283 Shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Sit Investment Associates Inc. lowered its holdings in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 7.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,636 shares of the financial services provider’s stock after selling 13,283 shares during the period. Sit Investment Associates Inc.’s holdings in BlackRock MuniYield Michigan Quality Fund were worth $1,830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Virtu Financial LLC purchased a new position in shares of BlackRock MuniYield Michigan Quality Fund during the fourth quarter valued at approximately $111,000. Summit Trail Advisors LLC purchased a new position in BlackRock MuniYield Michigan Quality Fund during the second quarter valued at $113,000. West Michigan Advisors LLC bought a new stake in BlackRock MuniYield Michigan Quality Fund in the first quarter worth $161,000. Bank of Montreal Can purchased a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the first quarter worth $180,000. Finally, CWM LLC increased its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 33.7% during the second quarter. CWM LLC now owns 13,280 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 3,350 shares in the last quarter. Hedge funds and other institutional investors own 19.63% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Trading Up 0.9 %

Shares of BlackRock MuniYield Michigan Quality Fund stock opened at $10.40 on Thursday. BlackRock MuniYield Michigan Quality Fund, Inc. has a 1 year low of $9.45 and a 1 year high of $12.04. The firm’s 50-day moving average is $10.02 and its 200 day moving average is $10.63.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a $0.0345 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.41 annualized dividend and a dividend yield of 3.98%.

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.