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

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

BlackRock MuniYield Michigan Quality Fund Stock Up 0.3 %

MIY stock traded up $0.04 during trading on Friday, reaching $11.67. 41,018 shares of the stock were exchanged, compared to its average volume of 48,190. The stock has a 50 day simple moving average of $11.46 and a 200-day simple moving average of $11.67. BlackRock MuniYield Michigan Quality Fund has a twelve month low of $10.97 and a twelve month high of $12.11.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.0545 per share. This represents a $0.65 dividend on an annualized basis and a yield of 5.60%. The ex-dividend date of this dividend is Friday, February 14th.

Institutional Investors Weigh In On BlackRock MuniYield Michigan Quality Fund

Large investors have recently modified their holdings of the stock. Elequin Capital LP acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund in the 4th quarter worth approximately $49,000. Nomura Holdings Inc. acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund in the 4th quarter worth approximately $135,000. Baird Financial Group Inc. raised its holdings in shares of 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 worth $431,000 after buying an additional 18,351 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 11.8% in the 4th quarter. Bank of America Corp DE now owns 268,116 shares of the financial services provider’s stock worth $2,998,000 after buying an additional 28,252 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 25.7% in the 4th quarter. Stifel Financial Corp now owns 128,553 shares of the financial services provider’s stock worth $1,437,000 after buying an additional 26,268 shares in the last quarter. 24.15% of the stock is currently owned by institutional investors.

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.