Pointe Capital Management LLC Decreases Stake in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Pointe Capital Management LLC lessened its holdings in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 35.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,250 shares of the financial services provider’s stock after selling 10,432 shares during the period. Pointe Capital Management LLC owned approximately 0.07% of BlackRock MuniYield Michigan Quality Fund worth $219,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Simon Quick Advisors LLC acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 3rd quarter worth $112,000. Axxcess Wealth Management LLC purchased a new stake in BlackRock MuniYield Michigan Quality Fund during the 3rd quarter worth about $143,000. SYM FINANCIAL Corp purchased a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the third quarter worth about $152,000. Capital Asset Advisory Services LLC grew its stake in BlackRock MuniYield Michigan Quality Fund by 17.0% in the 4th quarter. Capital Asset Advisory Services LLC now owns 16,850 shares of the financial services provider’s stock worth $191,000 after acquiring an additional 2,450 shares during the period. Finally, Foresight Capital Management Advisors Inc. acquired a new position in BlackRock MuniYield Michigan Quality Fund in the 4th quarter valued at $195,000. Hedge funds and other institutional investors own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Price Performance

Shares of MIY stock traded up $0.17 during mid-day trading on Friday, hitting $11.23. 75,515 shares of the company’s stock were exchanged, compared to its average volume of 54,095. BlackRock MuniYield Michigan Quality Fund, Inc. has a fifty-two week low of $9.45 and a fifty-two week high of $11.70. The stock has a 50-day simple moving average of $11.36 and a two-hundred day simple moving average of $11.08.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be given a dividend of $0.0465 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.56 annualized dividend and a yield of 4.97%.

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.