Short Interest in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Increases By 35.1%

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totaling 83,814 shares, an increase of 35.1% from the December 31st total of 62,047 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 45,792 shares, the short-interest ratio is currently 1.8 days. Based on an average daily trading volume, of 45,792 shares, the short-interest ratio is currently 1.8 days. Currently, 0.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the second quarter worth about $61,000. Wolverine Asset Management LLC acquired a new position in BlackRock MuniYield Michigan Quality Fund during the third quarter worth about $84,000. Regal Investment Advisors LLC purchased a new position in BlackRock MuniYield Michigan Quality Fund in the third quarter valued at about $146,000. Foresight Capital Management Advisors Inc. lifted its position in shares of 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, Summit Financial Consulting LLC boosted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 8.1% during the 3rd quarter. Summit Financial Consulting LLC now owns 29,665 shares of the financial services provider’s stock worth $335,000 after acquiring an additional 2,221 shares in the last quarter. 24.15% of the stock is owned by institutional investors and hedge funds.

BlackRock MuniYield Michigan Quality Fund Stock Up 1.9%

Shares of NYSE MIY opened at $12.35 on Tuesday. BlackRock MuniYield Michigan Quality Fund has a 12-month low of $10.57 and a 12-month high of $12.48. The company has a 50-day moving average of $11.86 and a 200 day moving average of $11.49.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.0545 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) annualized dividend and a yield of 5.3%.

About BlackRock MuniYield Michigan Quality Fund

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.