Baird Financial Group Inc. Has $431,000 Stake in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Baird Financial Group Inc. boosted its holdings in shares of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 91.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,513 shares of the financial services provider’s stock after buying an additional 18,351 shares during the quarter. Baird Financial Group Inc.’s holdings in BlackRock MuniYield Michigan Quality Fund were worth $431,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new position in BlackRock MuniYield Michigan Quality Fund during the fourth quarter worth $154,000. Bank of Montreal Can grew its position in shares of BlackRock MuniYield Michigan Quality Fund by 4.8% in the fourth quarter. Bank of Montreal Can now owns 19,740 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 913 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the fourth quarter valued at about $928,000. Wells Fargo & Company MN grew its position in shares of BlackRock MuniYield Michigan Quality Fund by 3.2% in the fourth quarter. Wells Fargo & Company MN now owns 117,579 shares of the financial services provider’s stock valued at $1,315,000 after purchasing an additional 3,612 shares during the last quarter. Finally, LPL Financial LLC grew its position in shares of BlackRock MuniYield Michigan Quality Fund by 55.4% in the fourth quarter. LPL Financial LLC now owns 117,812 shares of the financial services provider’s stock valued at $1,317,000 after purchasing an additional 41,989 shares during the last quarter. 24.15% of the stock is owned by institutional investors and hedge funds.

BlackRock MuniYield Michigan Quality Fund Stock Down 0.2%

Shares of NYSE:MIY opened at $11.49 on Friday. The stock’s 50-day moving average is $11.34 and its 200-day moving average is $11.49. BlackRock MuniYield Michigan Quality Fund, Inc. has a 52-week low of $10.81 and a 52-week high of $12.11.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.0545 per share. This represents a $0.65 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date of this dividend is Thursday, May 15th.

About BlackRock MuniYield Michigan Quality Fund

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.