Wolverine Asset Management LLC Acquires 37,622 Shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Wolverine Asset Management LLC increased its holdings in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 339.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 48,704 shares of the financial services provider’s stock after buying an additional 37,622 shares during the quarter. Wolverine Asset Management LLC owned about 0.17% of BlackRock MuniYield Michigan Quality Fund worth $585,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MIY. Cetera Investment Advisers bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the first quarter worth $2,026,000. Robinson Capital Management LLC grew its holdings in BlackRock MuniYield Michigan Quality Fund by 13.5% during the first quarter. Robinson Capital Management LLC now owns 618,081 shares of the financial services provider’s stock valued at $6,839,000 after purchasing an additional 73,671 shares during the period. Allspring Global Investments Holdings LLC increased its position in BlackRock MuniYield Michigan Quality Fund by 52.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 205,905 shares of the financial services provider’s stock worth $2,356,000 after buying an additional 70,823 shares in the last quarter. West Michigan Advisors LLC bought a new position in shares of BlackRock MuniYield Michigan Quality Fund in the third quarter worth about $248,000. Finally, Rockport Wealth LLC purchased a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 1st quarter valued at about $222,000. Hedge funds and other institutional investors own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Price Performance

BlackRock MuniYield Michigan Quality Fund stock opened at $11.68 on Thursday. BlackRock MuniYield Michigan Quality Fund, Inc. has a 12-month low of $10.24 and a 12-month high of $12.11. The firm has a 50 day moving average of $11.83 and a 200 day moving average of $11.59.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a dividend of $0.0545 per share. The ex-dividend date is Friday, November 15th. This represents a $0.65 annualized dividend and a dividend yield of 5.60%.

BlackRock MuniYield Michigan Quality Fund Company 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.