Stifel Financial Corp Boosts Stock Position in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Stifel Financial Corp boosted its position in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Free Report) by 25.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 128,553 shares of the financial services provider's stock after purchasing an additional 26,268 shares during the period. Stifel Financial Corp owned about 0.44% of BlackRock MuniYield Michigan Quality Fund worth $1,437,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new stake in BlackRock MuniYield Michigan Quality Fund during the 4th quarter valued at approximately $154,000. Bank of Montreal Can raised its stake in BlackRock MuniYield Michigan Quality Fund by 4.8% during the 4th quarter. Bank of Montreal Can now owns 19,740 shares of the financial services provider's stock valued at $221,000 after purchasing an additional 913 shares during the period. Raymond James Financial Inc. bought a new stake in BlackRock MuniYield Michigan Quality Fund during the 4th quarter valued at approximately $928,000. Wells Fargo & Company MN raised its stake in BlackRock MuniYield Michigan Quality Fund by 3.2% during the 4th quarter. Wells Fargo & Company MN now owns 117,579 shares of the financial services provider's stock valued at $1,315,000 after purchasing an additional 3,612 shares during the period. Finally, LPL Financial LLC grew its holdings in BlackRock MuniYield Michigan Quality Fund by 55.4% during the 4th quarter. LPL Financial LLC now owns 117,812 shares of the financial services provider's stock valued at $1,317,000 after buying an additional 41,989 shares in the last quarter. Institutional investors own 24.15% of the company's stock.

BlackRock MuniYield Michigan Quality Fund Stock Performance

NYSE MIY traded down $0.11 during trading on Monday, hitting $11.59. 55,926 shares of the stock traded hands, compared to its average volume of 57,913. The firm has a 50-day simple moving average of $11.35 and a 200-day simple moving average of $11.49. BlackRock MuniYield Michigan Quality Fund, Inc. has a 12-month low of $10.81 and a 12-month high of $12.11.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.0545 per share. This represents a $0.65 annualized dividend and a yield of 5.65%. 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.