BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Short Interest Down 45.4% in February

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) saw a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 15,300 shares, a decrease of 45.4% from the February 13th total of 28,000 shares. Based on an average daily volume of 61,700 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Trading of BlackRock MuniYield Michigan Quality Fund

A number of institutional investors and hedge funds have recently modified their holdings of MIY. Elequin Capital LP bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the fourth quarter worth about $49,000. Nomura Holdings Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the fourth quarter worth about $135,000. PNC Financial Services Group Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the fourth quarter worth about $154,000. Bank of Montreal Can grew its position in shares of BlackRock MuniYield Michigan Quality Fund by 4.8% during the fourth quarter. Bank of Montreal Can now owns 19,740 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 913 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in shares of BlackRock MuniYield Michigan Quality Fund by 91.0% during the fourth quarter. Baird Financial Group Inc. now owns 38,513 shares of the financial services provider’s stock worth $431,000 after acquiring an additional 18,351 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 traded down $0.03 on Friday, reaching $11.46. 35,998 shares of the company’s stock were exchanged, compared to its average volume of 56,262. BlackRock MuniYield Michigan Quality Fund has a fifty-two week low of $10.97 and a fifty-two week high of $12.11. The business’s 50-day moving average is $11.53 and its two-hundred day moving average is $11.67.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.0545 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.71%.

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.