Logan Stone Capital LLC Decreases Stock Holdings in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Logan Stone Capital LLC reduced its stake in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 29.6% during the fourth quarter, Holdings Channel reports. The firm owned 165,100 shares of the financial services provider’s stock after selling 69,424 shares during the quarter. BlackRock MuniYield Michigan Quality Fund makes up approximately 0.6% of Logan Stone Capital LLC’s portfolio, making the stock its 26th biggest position. Logan Stone Capital LLC’s holdings in BlackRock MuniYield Michigan Quality Fund were worth $1,846,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. purchased a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter valued at about $154,000. Bank of Montreal Can lifted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 4.8% in the 4th quarter. Bank of Montreal Can now owns 19,740 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 913 shares during the period. Baird Financial Group Inc. lifted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 91.0% in the 4th quarter. Baird Financial Group Inc. now owns 38,513 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 18,351 shares during the period. Raymond James Financial Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund in the 4th quarter worth approximately $928,000. Finally, Wells Fargo & Company MN lifted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 3.2% in the 4th quarter. Wells Fargo & Company MN now owns 117,579 shares of the financial services provider’s stock worth $1,315,000 after purchasing an additional 3,612 shares during the period. 24.15% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniYield Michigan Quality Fund Stock Performance

NYSE MIY opened at $11.69 on Monday. BlackRock MuniYield Michigan Quality Fund, Inc. has a 12 month low of $10.81 and a 12 month high of $12.11. The company’s 50 day moving average is $11.35 and its two-hundred day moving average is $11.49.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.0545 per share. This represents a $0.65 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend is Thursday, May 15th.

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.