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

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 104,800 shares, a growth of 198.6% from the March 31st total of 35,100 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average trading volume of 51,700 shares, the short-interest ratio is currently 2.0 days.

Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund

Institutional investors have recently bought and sold shares of the business. Rivernorth Capital Management LLC increased its stake in shares of BlackRock MuniYield Michigan Quality Fund by 6.6% in the third 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. Raymond James Financial Inc. acquired a new stake in BlackRock MuniYield Michigan Quality Fund during the 4th quarter worth about $928,000. PNC Financial Services Group Inc. purchased a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter valued at about $154,000. LPL Financial LLC lifted its holdings in shares of 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 valued at $1,317,000 after buying an additional 41,989 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 3.2% in the fourth quarter. Wells Fargo & Company MN now owns 117,579 shares of the financial services provider’s stock worth $1,315,000 after buying an additional 3,612 shares during the last quarter. 24.15% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniYield Michigan Quality Fund Trading Up 0.3 %

BlackRock MuniYield Michigan Quality Fund stock opened at $11.26 on Wednesday. The business’s 50-day simple moving average is $11.37 and its two-hundred day simple moving average is $11.52. BlackRock MuniYield Michigan Quality Fund has a fifty-two week low of $10.81 and a fifty-two week high of $12.11.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a $0.0545 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.65 dividend on an annualized basis and a yield of 5.81%.

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.