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

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIYGet Free Report) declared a monthly dividend on Friday, November 17th, Wall Street Journal reports. Stockholders of record on Thursday, February 15th will be given a dividend of 0.0465 per share by the financial services provider on Friday, March 1st. This represents a $0.56 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Wednesday, February 14th.

BlackRock MuniYield Michigan Quality Fund Stock Performance

MIY opened at $11.44 on Monday. BlackRock MuniYield Michigan Quality Fund has a 52-week low of $9.45 and a 52-week high of $11.92. The firm’s 50-day moving average price is $11.35 and its 200-day moving average price is $10.72.

Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley increased its holdings in BlackRock MuniYield Michigan Quality Fund by 21.7% in the 4th quarter. Morgan Stanley now owns 413,947 shares of the financial services provider’s stock worth $4,591,000 after buying an additional 73,905 shares during the period. Rivernorth Capital Management LLC increased its holdings in BlackRock MuniYield Michigan Quality Fund by 73.1% in the 2nd quarter. Rivernorth Capital Management LLC now owns 357,082 shares of the financial services provider’s stock worth $3,946,000 after buying an additional 150,768 shares during the period. Bank of America Corp DE increased its holdings in BlackRock MuniYield Michigan Quality Fund by 11.3% in the 1st quarter. Bank of America Corp DE now owns 315,068 shares of the financial services provider’s stock worth $3,526,000 after buying an additional 32,062 shares during the period. Wells Fargo & Company MN increased its holdings in BlackRock MuniYield Michigan Quality Fund by 36.5% in the 2nd quarter. Wells Fargo & Company MN now owns 219,290 shares of the financial services provider’s stock worth $2,883,000 after buying an additional 58,589 shares during the period. Finally, Logan Stone Capital LLC acquired a new position in BlackRock MuniYield Michigan Quality Fund in the 4th quarter worth approximately $1,200,000. Institutional investors and hedge funds own 19.63% of the company’s stock.

About BlackRock MuniYield Michigan Quality Fund

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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.

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Dividend History for BlackRock MuniYield Michigan Quality Fund (NYSE:MIY)

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