Melone Private Wealth LLC Sells 70,620 Shares of BlackRock MuniYield Michigan Quality Fund, Inc. $MIY

Melone Private Wealth LLC decreased its position in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 18.7% during the third quarter, Holdings Channel.com reports. The fund owned 307,001 shares of the financial services provider’s stock after selling 70,620 shares during the quarter. BlackRock MuniYield Michigan Quality Fund accounts for approximately 1.6% of Melone Private Wealth LLC’s investment portfolio, making the stock its 20th largest position. Melone Private Wealth LLC’s holdings in BlackRock MuniYield Michigan Quality Fund were worth $3,463,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the second quarter worth about $46,000. PNC Financial Services Group Inc. bought a new position in BlackRock MuniYield Michigan Quality Fund during the 2nd quarter valued at approximately $61,000. Summit Financial Consulting LLC lifted its holdings in BlackRock MuniYield Michigan Quality Fund by 10.7% in the 2nd quarter. Summit Financial Consulting LLC now owns 27,444 shares of the financial services provider’s stock worth $303,000 after buying an additional 2,643 shares during the period. Foresight Capital Management Advisors Inc. lifted its holdings in BlackRock MuniYield Michigan Quality Fund by 8.3% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 28,723 shares of the financial services provider’s stock worth $317,000 after buying an additional 2,199 shares during the period. Finally, Axxcess Wealth Management LLC grew its position in shares of BlackRock MuniYield Michigan Quality Fund by 8.4% in the 2nd quarter. Axxcess Wealth Management LLC now owns 34,700 shares of the financial services provider’s stock worth $383,000 after buying an additional 2,700 shares during the last quarter. 24.15% of the stock is owned by institutional investors.

BlackRock MuniYield Michigan Quality Fund Price Performance

MIY opened at $11.53 on Monday. The stock’s 50 day moving average price is $11.60 and its 200-day moving average price is $11.31. BlackRock MuniYield Michigan Quality Fund, Inc. has a 52-week low of $10.57 and a 52-week high of $11.89.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be given a dividend of $0.0545 per share. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Monday, December 22nd.

BlackRock MuniYield Michigan Quality Fund Company Profile

BlackRock MuniYield Michigan Quality Fund (NYSE: MIY) is a closed-end management investment company that seeks to provide current income exempt from federal and Michigan personal income taxes. The fund primarily invests in investment-grade municipal securities issued by state and local governments within Michigan. Its portfolio typically includes a diversified mix of general obligation bonds and revenue bonds backed by public utilities, transportation projects, and other essential municipal services.

The fund’s investment strategy emphasizes credit quality and diversification across sectors and maturities.