Allspring Global Investments Holdings LLC Lowers Stock Holdings in BlackRock MuniYield Michigan Quality Fund, Inc. $MIY

Key Points

• Allspring Global Investments Holdings LLC has reduced its holdings in BlackRock MuniYield Michigan Quality Fund, Inc. by 27.4%, selling 57,963 shares, leaving them with 153,229 shares valued at $1,692,000.
• Several institutional investors have made adjustments to their investments in BlackRock MuniYield Michigan Quality Fund, including Foresight Capital Management Advisors which increased its holdings by 8.3%.
• The fund has declared a monthly dividend of $0.0545 per share, with an annualized yield of 5.7%, to be paid on November 3rd to shareholders on record as of October 15th.

Allspring Global Investments Holdings LLC reduced its position in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Free Report) by 27.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,229 shares of the financial services provider's stock after selling 57,963 shares during the period. Allspring Global Investments Holdings LLC's holdings in BlackRock MuniYield Michigan Quality Fund were worth $1,692,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Foresight Capital Management Advisors Inc. boosted its position in shares of BlackRock MuniYield Michigan Quality Fund by 8.3% during the second quarter. Foresight Capital Management Advisors Inc. now owns 28,723 shares of the financial services provider's stock worth $317,000 after buying an additional 2,199 shares during the period. Melfa Wealth Management Inc. boosted its holdings in BlackRock MuniYield Michigan Quality Fund by 6.8% in the second quarter. Melfa Wealth Management Inc. now owns 52,790 shares of the financial services provider's stock valued at $583,000 after purchasing an additional 3,363 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new position in BlackRock MuniYield Michigan Quality Fund in the second quarter valued at $46,000. Summit Financial Consulting LLC boosted its holdings in BlackRock MuniYield Michigan Quality Fund by 10.7% in the second quarter. Summit Financial Consulting LLC now owns 27,444 shares of the financial services provider's stock valued at $303,000 after purchasing an additional 2,643 shares during the period. Finally, Melone Private Wealth LLC boosted its holdings in BlackRock MuniYield Michigan Quality Fund by 2.3% in the second quarter. Melone Private Wealth LLC now owns 377,621 shares of the financial services provider's stock valued at $4,131,000 after purchasing an additional 8,364 shares during the period. 24.15% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock MuniYield Michigan Quality Fund Trading Up 0.3%

NYSE:MIY opened at $11.48 on Wednesday. The stock has a fifty day moving average price of $11.31 and a 200 day moving average price of $11.21. BlackRock MuniYield Michigan Quality Fund, Inc. has a 12-month low of $10.57 and a 12-month high of $12.09.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th will be issued a dividend of $0.0545 per share. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, October 15th.

About BlackRock MuniYield Michigan Quality Fund

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.

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