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

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) saw a significant growth in short interest in the month of 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. Currently, 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 57,266 shares, the days-to-cover ratio is presently 2.1 days.

Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Axxcess Wealth Management LLC increased its position in BlackRock MuniYield Michigan Quality Fund by 4.2% in the fourth quarter. Axxcess Wealth Management LLC now owns 32,200 shares of the financial services provider’s stock worth $378,000 after buying an additional 1,300 shares in the last quarter. Capital Asset Advisory Services LLC lifted its position in shares of BlackRock MuniYield Michigan Quality Fund by 4.2% during the 4th quarter. Capital Asset Advisory Services LLC now owns 32,200 shares of the financial services provider’s stock valued at $378,000 after buying an additional 1,300 shares in the last quarter. Royal Bank of Canada grew 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 acquiring an additional 1,503 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of BlackRock MuniYield Michigan Quality Fund by 1.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 138,143 shares of the financial services provider’s stock valued at $1,622,000 after acquiring an additional 1,661 shares during the period. Finally, Summit Financial Consulting LLC increased its holdings in BlackRock MuniYield Michigan Quality Fund by 8.1% in 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 currently owned by hedge funds and other institutional investors.

BlackRock MuniYield Michigan Quality Fund Trading Up 1.3%

MIY opened at $12.04 on Thursday. BlackRock MuniYield Michigan Quality Fund has a 1-year low of $10.57 and a 1-year high of $12.90. The firm’s 50 day simple moving average is $12.26 and its two-hundred day simple moving average is $11.83.

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 paid a $0.0545 dividend. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Monday, June 15th.

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.