BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC cut its stake in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 28.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,800 shares of the financial services provider’s stock after selling 15,488 shares during the period. Transcend Capital Advisors LLC owned approximately 0.14% of BlackRock MuniYield Michigan Quality Fund worth $452,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. AQR Arbitrage LLC grew its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 90.2% in the third quarter. AQR Arbitrage LLC now owns 205,914 shares of the financial services provider’s stock valued at $2,045,000 after purchasing an additional 97,635 shares in the last quarter. Robinson Capital Management LLC grew its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 13.0% in the third quarter. Robinson Capital Management LLC now owns 389,193 shares of the financial services provider’s stock valued at $3,853,000 after purchasing an additional 44,837 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 5.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 69,720 shares of the financial services provider’s stock valued at $792,000 after purchasing an additional 3,904 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund in the third quarter valued at approximately $143,000. Finally, Foresight Capital Management Advisors Inc. acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund in the fourth quarter valued at approximately $195,000. 24.15% of the stock is currently owned by institutional investors and hedge funds.

BlackRock MuniYield Michigan Quality Fund Stock Performance

Shares of MIY stock opened at $11.04 on Tuesday. The company has a 50 day moving average price of $11.39 and a 200 day moving average price of $11.07. BlackRock MuniYield Michigan Quality Fund, Inc. has a fifty-two week low of $9.45 and a fifty-two week high of $11.70.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a $0.0465 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Friday, April 12th.

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.