Robinson Capital Management LLC Trims Stock Position in BlackRock MuniYield Michigan Quality Fund, Inc. $MIY

Key Points

• Robinson Capital Management cut its MIY position by 59.4% in the second quarter, selling 229,089 shares and retaining 156,521 shares valued at approximately $1.92 million.
• Other institutional investors recently established positions in MIY, while institutional investors and hedge funds collectively own 24.15% of the fund.
• MIY opened at $12.40, near its 50-day average of $12.37 and two-hundred-day average of $12.19; the fund’s 52-week trading range is $11.07 to $12.90.

Robinson Capital Management LLC trimmed its holdings in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Free Report) by 59.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 156,521 shares of the financial services provider's stock after selling 229,089 shares during the period. Robinson Capital Management LLC owned 0.54% of BlackRock MuniYield Michigan Quality Fund worth $1,921,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MIY. Elyxium Wealth LLC acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter valued at about $43,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the first quarter worth approximately $56,000. Fifth Third Bancorp purchased a new stake in BlackRock MuniYield Michigan Quality Fund in the first quarter valued at approximately $61,000. Regal Investment Advisors LLC purchased a new stake in BlackRock MuniYield Michigan Quality Fund in the third quarter valued at approximately $146,000. Finally, Virtu Financial LLC acquired a new position in BlackRock MuniYield Michigan Quality Fund during the fourth quarter worth approximately $147,000. 24.15% of the stock is owned by institutional investors and hedge funds.

BlackRock MuniYield Michigan Quality Fund Stock Down 1.3%

NYSE:MIY opened at $12.40 on Thursday. The firm's 50 day moving average is $12.37 and its two-hundred day moving average is $12.19. BlackRock MuniYield Michigan Quality Fund, Inc. has a fifty-two week low of $11.07 and a fifty-two week high of $12.90.

About BlackRock MuniYield Michigan Quality Fund

BlackRock MuniYield Michigan Quality Fund NYSE: MIY is a closed-end management investment company that seeks to provide current income exempt from federal and Michigan personal income taxes. The fund primarily invests in investment-grade municipal securities issued by state and local governments within Michigan. Its portfolio typically includes a diversified mix of general obligation bonds and revenue bonds backed by public utilities, transportation projects, and other essential municipal services.

The fund's investment strategy emphasizes credit quality and diversification across sectors and maturities.

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