LPL Financial LLC Has $1.32 Million Stock Position in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

LPL Financial LLC raised its position in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Free Report) by 55.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 117,812 shares of the financial services provider's stock after buying an additional 41,989 shares during the quarter. LPL Financial LLC owned about 0.40% of BlackRock MuniYield Michigan Quality Fund worth $1,317,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. PNC Financial Services Group Inc. purchased a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the fourth quarter worth about $154,000. Raymond James Financial Inc. purchased a new position in BlackRock MuniYield Michigan Quality Fund in the 4th quarter valued at about $928,000. Stifel Financial Corp boosted its position in BlackRock MuniYield Michigan Quality Fund by 30.4% in the 3rd quarter. Stifel Financial Corp now owns 102,285 shares of the financial services provider's stock valued at $1,228,000 after buying an additional 23,850 shares during the last quarter. Finally, Rivernorth Capital Management LLC lifted its position in shares of BlackRock MuniYield Michigan Quality Fund by 6.6% during the third quarter. Rivernorth Capital Management LLC now owns 404,338 shares of the financial services provider's stock worth $4,856,000 after purchasing an additional 25,000 shares during the last quarter. 24.15% of the stock is owned by institutional investors and hedge funds.

BlackRock MuniYield Michigan Quality Fund Price Performance

MIY traded up $0.13 on Wednesday, hitting $11.15. 1,220 shares of the company's stock were exchanged, compared to its average volume of 56,571. The stock has a fifty day moving average of $11.41 and a two-hundred day moving average of $11.54. BlackRock MuniYield Michigan Quality Fund, Inc. has a twelve month low of $10.81 and a twelve month high of $12.11.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a dividend of $0.0545 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.87%.

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.