Short Interest in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Declines By 42.3%

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) saw a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 28,000 shares, a decline of 42.3% from the January 31st total of 48,500 shares. Based on an average daily volume of 66,600 shares, the days-to-cover ratio is presently 0.4 days.

BlackRock MuniYield Michigan Quality Fund Stock Down 0.3 %

Shares of BlackRock MuniYield Michigan Quality Fund stock traded down $0.04 on Tuesday, hitting $11.70. 36,153 shares of the company’s stock traded hands, compared to its average volume of 48,815. The company has a fifty day moving average of $11.47 and a two-hundred day moving average of $11.67. BlackRock MuniYield Michigan Quality Fund has a one year low of $10.97 and a one year high of $12.11.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.0545 per share. This represents a $0.65 annualized dividend and a dividend yield of 5.59%. The ex-dividend date was Friday, February 14th.

Institutional Trading of BlackRock MuniYield Michigan Quality Fund

Several hedge funds have recently modified their holdings of MIY. Elequin Capital LP bought a new position in BlackRock MuniYield Michigan Quality Fund during the fourth quarter worth $49,000. Nomura Holdings Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter worth about $135,000. PNC Financial Services Group Inc. acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the 4th quarter valued at about $154,000. Bank of Montreal Can grew its stake in shares of BlackRock MuniYield Michigan Quality Fund by 4.8% in the 4th quarter. Bank of Montreal Can now owns 19,740 shares of the financial services provider’s stock valued at $221,000 after buying an additional 913 shares during the period. Finally, Baird Financial Group Inc. increased its position in BlackRock MuniYield Michigan Quality Fund by 91.0% in the 4th quarter. Baird Financial Group Inc. now owns 38,513 shares of the financial services provider’s stock valued at $431,000 after buying an additional 18,351 shares in the last quarter. Institutional investors own 24.15% of the company’s stock.

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.