BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Short Interest Up 37.7% in December

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 48,076 shares, an increase of 37.7% from the November 30th total of 34,901 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 71,742 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily volume of 71,742 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.2% of the company’s shares are sold short.

BlackRock MuniYield Michigan Quality Fund Stock Performance

NYSE:MIY traded down $0.06 during midday trading on Tuesday, hitting $11.76. 159,568 shares of the company traded hands, compared to its average volume of 59,905. The firm’s fifty day moving average is $11.61 and its 200-day moving average is $11.31. BlackRock MuniYield Michigan Quality Fund has a 12-month low of $10.57 and a 12-month high of $11.89.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be issued a $0.0545 dividend. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Monday, December 22nd.

Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund

Several hedge funds have recently added to or reduced their stakes in MIY. FSA Advisors Inc. boosted its position in shares of BlackRock MuniYield Michigan Quality Fund by 117.0% during the second quarter. FSA Advisors Inc. now owns 218,413 shares of the financial services provider’s stock valued at $2,411,000 after buying an additional 117,754 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the second quarter worth approximately $46,000. PNC Financial Services Group Inc. bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the 2nd quarter worth approximately $61,000. Foresight Capital Management Advisors Inc. boosted its holdings in BlackRock MuniYield Michigan Quality Fund by 8.3% during the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 28,723 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 2,199 shares during the period. Finally, Melfa Wealth Management Inc. increased its stake in BlackRock MuniYield Michigan Quality Fund by 6.8% in the second quarter. Melfa Wealth Management Inc. now owns 52,790 shares of the financial services provider’s stock worth $583,000 after purchasing an additional 3,363 shares during the period. 24.15% of the stock is currently owned by institutional investors.

BlackRock MuniYield Michigan Quality Fund Company 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.