Pointe Capital Management LLC Sells 10,432 Shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Pointe Capital Management LLC cut its position in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 35.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,250 shares of the financial services provider’s stock after selling 10,432 shares during the quarter. Pointe Capital Management LLC’s holdings in BlackRock MuniYield Michigan Quality Fund were worth $219,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MIY. Simon Quick Advisors LLC acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the third quarter valued at about $112,000. Axxcess Wealth Management LLC bought a new stake in BlackRock MuniYield Michigan Quality Fund during the 3rd quarter worth approximately $143,000. SYM FINANCIAL Corp acquired a new position in BlackRock MuniYield Michigan Quality Fund in the 3rd quarter valued at approximately $152,000. Capital Asset Advisory Services LLC raised its stake in shares of BlackRock MuniYield Michigan Quality Fund by 17.0% during the fourth quarter. Capital Asset Advisory Services LLC now owns 16,850 shares of the financial services provider’s stock valued at $191,000 after acquiring an additional 2,450 shares during the last quarter. Finally, Foresight Capital Management Advisors Inc. acquired a new position in BlackRock MuniYield Michigan Quality Fund in the fourth quarter valued at $195,000. 24.15% of the stock is currently owned by institutional investors and hedge funds.

BlackRock MuniYield Michigan Quality Fund Stock Performance

Shares of MIY stock traded up $0.17 during mid-day trading on Friday, hitting $11.23. The company’s stock had a trading volume of 75,515 shares, compared to its average volume of 54,095. The company’s fifty day simple moving average is $11.36 and its 200-day simple moving average is $11.08. BlackRock MuniYield Michigan Quality Fund, Inc. has a 52 week low of $9.45 and a 52 week high of $11.70.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

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

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.