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

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

Institutional Investors Weigh In On BlackRock MuniYield Michigan Quality Fund

A number of large investors have recently bought and sold shares of MIY. Raymond James Financial Inc. bought a new stake in BlackRock MuniYield Michigan Quality Fund during the 4th quarter worth approximately $928,000. LPL Financial LLC grew its position in BlackRock MuniYield Michigan Quality Fund by 55.4% during the 4th quarter. LPL Financial LLC now owns 117,812 shares of the financial services provider’s stock worth $1,317,000 after acquiring an additional 41,989 shares during the last quarter. Wolverine Asset Management LLC grew its position in BlackRock MuniYield Michigan Quality Fund by 339.5% during the 3rd quarter. Wolverine Asset Management LLC now owns 48,704 shares of the financial services provider’s stock worth $585,000 after acquiring an additional 37,622 shares during the last quarter. Bank of America Corp DE boosted its position in 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 valued at $2,998,000 after buying an additional 28,252 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in 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 valued at $1,437,000 after buying an additional 26,268 shares during the last quarter. 24.15% of the stock is currently owned by institutional investors.

BlackRock MuniYield Michigan Quality Fund Stock Up 0.3 %

NYSE MIY traded up $0.04 during trading hours on Friday, reaching $11.67. 41,018 shares of the company’s stock were exchanged, compared to its average volume of 48,190. BlackRock MuniYield Michigan Quality Fund has a one year low of $10.97 and a one year high of $12.11. The firm has a fifty day moving average of $11.46 and a 200-day moving average of $11.67.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

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

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.