Melone Private Wealth LLC Reduces Stock Holdings in BlackRock MuniYield Michigan Quality Fund, Inc. $MIY

Melone Private Wealth LLC reduced its position in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 23.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 216,071 shares of the financial services provider’s stock after selling 64,823 shares during the quarter. BlackRock MuniYield Michigan Quality Fund accounts for approximately 1.0% of Melone Private Wealth LLC’s holdings, making the stock its 25th biggest position. Melone Private Wealth LLC owned about 0.75% of BlackRock MuniYield Michigan Quality Fund worth $2,651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MIY. Foresight Capital Management Advisors Inc. lifted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 8.8% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 39,991 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 3,225 shares during the period. Parallel Advisors LLC purchased a new position in shares of BlackRock MuniYield Michigan Quality Fund in the first quarter worth approximately $443,000. FSA Advisors Inc. grew its position in BlackRock MuniYield Michigan Quality Fund by 10.7% during the first quarter. FSA Advisors Inc. now owns 226,124 shares of the financial services provider’s stock valued at $2,686,000 after buying an additional 21,879 shares during the period. Fifth Third Bancorp bought a new stake in BlackRock MuniYield Michigan Quality Fund during the first quarter valued at approximately $61,000. Finally, Kestra Advisory Services LLC increased its holdings in BlackRock MuniYield Michigan Quality Fund by 1.3% during the first quarter. Kestra Advisory Services LLC now owns 346,343 shares of the financial services provider’s stock valued at $4,115,000 after buying an additional 4,291 shares during the last quarter. Hedge funds and other institutional investors own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Stock Up 0.2%

Shares of MIY stock opened at $12.21 on Monday. BlackRock MuniYield Michigan Quality Fund, Inc. has a 12 month low of $10.97 and a 12 month high of $12.90. The company has a 50 day simple moving average of $12.20 and a two-hundred day simple moving average of $12.14.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.0545 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%.

BlackRock MuniYield Michigan Quality Fund 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.