80,177 BlackRock MuniYield Michigan Quality Fund, Inc. $MIY Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC grew its holdings in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 166.2% in the third quarter, HoldingsChannel reports. The fund owned 128,421 shares of the financial services provider’s stock after buying an additional 80,177 shares during the period. Parallel Advisors LLC’s holdings in BlackRock MuniYield Michigan Quality Fund were worth $1,450,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in MIY. MeadowBrook Investment Advisors LLC raised its stake in shares of BlackRock MuniYield Michigan Quality Fund by 50.6% during the third quarter. MeadowBrook Investment Advisors LLC now owns 7,146 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 2,400 shares in the last quarter. William Mack & Associates Inc. acquired a new stake in BlackRock MuniYield Michigan Quality Fund in the third quarter worth about $26,000. Summit Financial Consulting LLC lifted its holdings in BlackRock MuniYield Michigan Quality Fund by 4.9% in the third quarter. Summit Financial Consulting LLC now owns 41,515 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 1,947 shares during the period. Baird Financial Group Inc. lifted its holdings in BlackRock MuniYield Michigan Quality Fund by 5.1% in the second quarter. Baird Financial Group Inc. now owns 36,198 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 1,754 shares during the period. Finally, Foresight Capital Management Advisors Inc. grew its position in BlackRock MuniYield Michigan Quality Fund by 8.8% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 39,991 shares of the financial services provider’s stock valued at $491,000 after buying an additional 3,225 shares in the last quarter. Institutional investors and hedge funds own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Price Performance

BlackRock MuniYield Michigan Quality Fund stock opened at $12.27 on Tuesday. The company’s 50-day moving average price is $11.92 and its two-hundred day moving average price is $12.12. BlackRock MuniYield Michigan Quality Fund, Inc. has a 52 week low of $11.01 and a 52 week high of $12.90.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be paid a $0.0545 dividend. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, November 13th.

About BlackRock MuniYield Michigan Quality Fund

BlackRock MuniYield Michigan Quality Fund, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol MIY. The fund seeks to provide investors with current income that is exempt from federal income tax and Michigan personal income tax, subject to applicable tax rules.

The fund invests primarily in long-term municipal obligations issued by or on behalf of the state of Michigan, its municipalities, and other governmental entities. Its portfolio may include bonds financing public infrastructure and essential services, such as education, transportation, utilities, health care, and housing.

BlackRock Advisors, LLC, an affiliate of BlackRock, manages the fund.