BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Short Interest Update

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totaling 118,150 shares, a growth of 19.3% from the February 26th total of 99,036 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average trading volume of 57,266 shares, the short-interest ratio is currently 2.1 days.

Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the fourth quarter worth approximately $147,000. Axxcess Wealth Management LLC increased its stake in BlackRock MuniYield Michigan Quality Fund by 4.2% in the 4th quarter. Axxcess Wealth Management LLC now owns 32,200 shares of the financial services provider’s stock valued at $378,000 after buying an additional 1,300 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in BlackRock MuniYield Michigan Quality Fund in the 4th quarter worth approximately $259,000. Osaic Holdings Inc. lifted its position in BlackRock MuniYield Michigan Quality Fund by 14.7% in the 4th quarter. Osaic Holdings Inc. now owns 105,599 shares of the financial services provider’s stock worth $1,240,000 after buying an additional 13,561 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 2.7% during the 4th quarter. Royal Bank of Canada now owns 57,917 shares of the financial services provider’s stock valued at $680,000 after buying an additional 1,503 shares during the period. 24.15% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock MuniYield Michigan Quality Fund Trading Up 1.3%

Shares of BlackRock MuniYield Michigan Quality Fund stock traded up $0.16 on Tuesday, hitting $11.86. The company had a trading volume of 87,632 shares, compared to its average volume of 51,212. The business has a 50-day simple moving average of $12.26 and a 200-day simple moving average of $11.83. BlackRock MuniYield Michigan Quality Fund has a 52 week low of $10.57 and a 52 week high of $12.90.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a dividend of $0.0545 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Monday, June 15th.

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.