Mackay Shields LLC reduced its holdings in shares of BR-MUNIYLD MI I (NYSE:MIY) by 9.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 451,928 shares of the financial services provider’s stock after selling 46,852 shares during the quarter. Mackay Shields LLC owned 1.53% of BR-MUNIYLD MI I worth $6,309,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Pointe Capital Management LLC increased its holdings in BR-MUNIYLD MI I by 8.0% in the 2nd quarter. Pointe Capital Management LLC now owns 82,059 shares of the financial services provider’s stock worth $1,151,000 after purchasing an additional 6,100 shares in the last quarter. IFP Advisors Inc increased its holdings in BR-MUNIYLD MI I by 2.8% in the 2nd quarter. IFP Advisors Inc now owns 23,446 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 645 shares in the last quarter. Walter & Keenan Financial Consulting Co. MI ADV increased its holdings in BR-MUNIYLD MI I by 0.3% in the 2nd quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 21,632 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 58 shares in the last quarter. Finally, Sigma Planning Corp increased its stake in shares of BR-MUNIYLD MI I by 31.5% in the second quarter. Sigma Planning Corp now owns 17,767 shares of the financial services provider’s stock valued at $249,000 after buying an additional 4,252 shares during the period. Institutional investors and hedge funds own 10.98% of the company’s stock.
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Shares of BR-MUNIYLD MI I (NYSE MIY) traded down $0.09 during mid-day trading on Friday, hitting $13.98. The stock had a trading volume of 32,500 shares, compared to its average volume of 46,729. BR-MUNIYLD MI I has a 12 month low of $13.17 and a 12 month high of $14.32.
The business also recently declared a monthly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a $0.064 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.77 annualized dividend and a dividend yield of 5.49%.
BR-MUNIYLD MI I Company Profile
BlackRock MuniYield Michigan Quality Fund, Inc (the Fund) is a non-diversified, closed-end management investment company. The Fund’s investment objective is to provide shareholders with as high a level of current income exempt from federal and Michigan income taxes as is consistent with its investment policies and prudent investment management.
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