11,352 Shares in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC purchased a new stake in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,352 shares of the financial services provider’s stock, valued at approximately $129,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Saba Capital Management L.P. grew its position in BlackRock MuniYield Michigan Quality Fund by 70.4% during the 3rd quarter. Saba Capital Management L.P. now owns 664,020 shares of the financial services provider’s stock worth $6,594,000 after acquiring an additional 274,244 shares during the last quarter. Fiera Capital Corp increased its stake in shares of BlackRock MuniYield Michigan Quality Fund by 2.3% in the third quarter. Fiera Capital Corp now owns 510,239 shares of the financial services provider’s stock worth $5,067,000 after buying an additional 11,549 shares during the period. Robinson Capital Management LLC raised its holdings in BlackRock MuniYield Michigan Quality Fund by 13.0% during the 3rd quarter. Robinson Capital Management LLC now owns 389,193 shares of the financial services provider’s stock valued at $3,853,000 after buying an additional 44,837 shares during the last quarter. AQR Arbitrage LLC boosted its position in BlackRock MuniYield Michigan Quality Fund by 90.2% during the 3rd quarter. AQR Arbitrage LLC now owns 205,914 shares of the financial services provider’s stock valued at $2,045,000 after buying an additional 97,635 shares during the period. Finally, Well Done LLC increased its position in shares of BlackRock MuniYield Michigan Quality Fund by 0.9% in the fourth quarter. Well Done LLC now owns 177,860 shares of the financial services provider’s stock valued at $2,020,000 after acquiring an additional 1,500 shares during the period. 24.15% of the stock is owned by institutional investors.

BlackRock MuniYield Michigan Quality Fund Trading Down 0.2 %

BlackRock MuniYield Michigan Quality Fund stock opened at $11.35 on Friday. BlackRock MuniYield Michigan Quality Fund, Inc. has a 1-year low of $9.45 and a 1-year high of $11.70. The firm has a 50-day moving average of $11.36 and a 200-day moving average of $11.13.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be paid a $0.0465 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date is Tuesday, May 14th.

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.