BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Stake Reduced by Logan Stone Capital LLC

Logan Stone Capital LLC decreased its position in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Free Report) by 29.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. 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 comprises about 0.6% of Logan Stone Capital LLC's investment portfolio, making the stock its 26th largest holding. Logan Stone Capital LLC owned about 0.56% of BlackRock MuniYield Michigan Quality Fund worth $1,846,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LPL Financial LLC boosted its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 55.4% during the fourth quarter. LPL Financial LLC now owns 117,812 shares of the financial services provider's stock valued at $1,317,000 after acquiring an additional 41,989 shares during the period. Raymond James Financial Inc. bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the fourth quarter valued at about $928,000. PNC Financial Services Group Inc. bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the fourth quarter valued at about $154,000. Baird Financial Group Inc. raised its stake in shares of BlackRock MuniYield Michigan Quality Fund by 91.0% during the fourth quarter. Baird Financial Group Inc. now owns 38,513 shares of the financial services provider's stock valued at $431,000 after purchasing an additional 18,351 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of BlackRock MuniYield Michigan Quality Fund by 25.7% during the fourth quarter. Stifel Financial Corp now owns 128,553 shares of the financial services provider's stock valued at $1,437,000 after purchasing an additional 26,268 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

Shares of NYSE MIY traded up $0.08 during midday trading on Friday, reaching $11.59. 15,346 shares of the company traded hands, compared to its average volume of 58,098. BlackRock MuniYield Michigan Quality Fund, Inc. has a 52 week low of $10.81 and a 52 week high of $12.11. The stock has a 50-day moving average price of $11.34 and a 200 day moving average price of $11.49.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 2nd. Investors 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 dividend yield of 5.64%. The ex-dividend date of this dividend is Thursday, May 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.