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

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 49,100 shares, a growth of 220.9% from the February 28th total of 15,300 shares. Based on an average daily volume of 57,900 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.2% of the company’s shares are sold short.

BlackRock MuniYield Michigan Quality Fund Trading Up 0.5 %

NYSE MIY opened at $11.30 on Friday. BlackRock MuniYield Michigan Quality Fund has a twelve month low of $10.97 and a twelve month high of $12.11. The business’s 50-day moving average price is $11.53 and its 200 day moving average price is $11.64.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.0545 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.79%.

Institutional Trading of BlackRock MuniYield Michigan Quality Fund

Institutional investors and hedge funds have recently bought and sold shares of the business. Rivernorth Capital Management LLC boosted its holdings in BlackRock MuniYield Michigan Quality Fund by 6.6% in the 3rd quarter. Rivernorth Capital Management LLC now owns 404,338 shares of the financial services provider’s stock worth $4,856,000 after acquiring an additional 25,000 shares during the period. Stifel Financial Corp boosted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 30.4% in the third quarter. Stifel Financial Corp now owns 102,285 shares of the financial services provider’s stock valued at $1,228,000 after purchasing an additional 23,850 shares during the period. Raymond James Financial Inc. acquired a new stake in BlackRock MuniYield Michigan Quality Fund during the 4th quarter valued at $928,000. PNC Financial Services Group Inc. purchased a new stake in BlackRock MuniYield Michigan Quality Fund during the 4th quarter worth $154,000. Finally, LPL Financial LLC lifted its holdings in BlackRock MuniYield Michigan Quality Fund by 55.4% in the 4th quarter. LPL Financial LLC now owns 117,812 shares of the financial services provider’s stock worth $1,317,000 after buying an additional 41,989 shares in the last quarter. Institutional investors and hedge funds own 24.15% of the company’s stock.

About BlackRock MuniYield Michigan Quality Fund

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.