Transcend Capital Advisors LLC Has $420,000 Holdings in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Transcend Capital Advisors LLC lessened its holdings in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 20.2% during the fourth quarter, HoldingsChannel reports. The fund owned 37,573 shares of the financial services provider’s stock after selling 9,500 shares during the quarter. Transcend Capital Advisors LLC’s holdings in BlackRock MuniYield Michigan Quality Fund were worth $420,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MIY. FSA Advisors Inc. acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the 3rd quarter worth about $150,000. West Michigan Advisors LLC acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the 3rd quarter worth about $248,000. Wolverine Asset Management LLC raised its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 339.5% in the 3rd quarter. Wolverine Asset Management LLC now owns 48,704 shares of the financial services provider’s stock worth $585,000 after acquiring an additional 37,622 shares during the last quarter. AHL Investment Management Inc. raised its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 37.2% in the 3rd quarter. AHL Investment Management Inc. now owns 64,900 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 17,600 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of 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 worth $1,228,000 after acquiring an additional 23,850 shares during the last quarter. Institutional investors and hedge funds own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Stock Performance

MIY opened at $11.61 on Friday. BlackRock MuniYield Michigan Quality Fund, Inc. has a fifty-two week low of $10.97 and a fifty-two week high of $12.11. The company’s 50-day moving average is $11.44 and its 200 day moving average is $11.68.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a $0.0545 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.65 annualized dividend and a yield of 5.63%.

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.