Axxcess Wealth Management LLC Has $209,000 Stock Holdings in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY)

Axxcess Wealth Management LLC raised its stake in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) by 7.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,150 shares of the financial services provider’s stock after buying an additional 1,300 shares during the period. Axxcess Wealth Management LLC owned 0.06% of BlackRock MuniYield Michigan Quality Fund worth $209,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital Asset Advisory Services LLC boosted its position in BlackRock MuniYield Michigan Quality Fund by 7.7% in the first quarter. Capital Asset Advisory Services LLC now owns 18,150 shares of the financial services provider’s stock valued at $209,000 after buying an additional 1,300 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 5.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 69,720 shares of the financial services provider’s stock worth $792,000 after purchasing an additional 3,904 shares during the period. Blue Bell Private Wealth Management LLC acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund during the first quarter worth $46,000. Scarborough Advisors LLC acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund during the fourth quarter worth $79,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 16.5% during the first quarter. Commonwealth Equity Services LLC now owns 62,697 shares of the financial services provider’s stock worth $722,000 after purchasing an additional 8,897 shares during the period. Institutional investors and hedge funds own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Trading Up 0.4 %

Shares of NYSE:MIY opened at $11.53 on Friday. BlackRock MuniYield Michigan Quality Fund, Inc. has a 52 week low of $9.45 and a 52 week high of $11.70. The firm’s fifty day moving average is $11.39 and its 200-day moving average is $11.36.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be paid a dividend of $0.0465 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend is Monday, July 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.