FSA Advisors Inc. Acquires Shares of 12,459 BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

FSA Advisors Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 12,459 shares of the financial services provider’s stock, valued at approximately $150,000.

Other large investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 16.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 62,697 shares of the financial services provider’s stock valued at $722,000 after acquiring an additional 8,897 shares during the period. Rockport Wealth LLC purchased a new position in BlackRock MuniYield Michigan Quality Fund in the first quarter valued at about $222,000. Robinson Capital Management LLC raised its holdings in BlackRock MuniYield Michigan Quality Fund by 13.5% in the first quarter. Robinson Capital Management LLC now owns 618,081 shares of the financial services provider’s stock worth $6,839,000 after purchasing an additional 73,671 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of BlackRock MuniYield Michigan Quality Fund by 7.7% during the first quarter. Axxcess Wealth Management LLC now owns 18,150 shares of the financial services provider’s stock valued at $209,000 after buying an additional 1,300 shares during the last quarter. Finally, Cetera Investment Advisers bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the 1st quarter valued at about $2,026,000. 24.15% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniYield Michigan Quality Fund Stock Up 1.0 %

Shares of BlackRock MuniYield Michigan Quality Fund stock opened at $11.70 on Monday. The firm’s 50 day moving average price is $11.86 and its 200-day moving average price is $11.55. BlackRock MuniYield Michigan Quality Fund, Inc. has a 52-week low of $9.45 and a 52-week high of $12.11.

BlackRock MuniYield Michigan Quality Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be issued a $0.0545 dividend. This is a positive change from BlackRock MuniYield Michigan Quality Fund’s previous monthly dividend of $0.05. This represents a $0.65 annualized dividend and a yield of 5.59%. The ex-dividend date is Tuesday, October 15th.

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.