BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Short Interest Down 45.4% in February

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 15,300 shares, a decrease of 45.4% from the February 13th total of 28,000 shares. Based on an average daily trading volume, of 61,700 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are short sold.

BlackRock MuniYield Michigan Quality Fund Stock Performance

NYSE MIY traded down $0.07 on Friday, reaching $11.47. The company’s stock had a trading volume of 53,005 shares, compared to its average volume of 56,013. The business has a 50-day moving average price of $11.54 and a 200 day moving average price of $11.67. BlackRock MuniYield Michigan Quality Fund has a 52 week low of $10.97 and a 52 week high of $12.11.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.0545 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.65 dividend on an annualized basis and a yield of 5.70%.

Institutional Trading of BlackRock MuniYield Michigan Quality Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rivernorth Capital Management LLC grew its stake in BlackRock MuniYield Michigan Quality Fund by 6.6% during the third quarter. Rivernorth Capital Management LLC now owns 404,338 shares of the financial services provider’s stock worth $4,856,000 after buying an additional 25,000 shares during the last quarter. Bank of America Corp DE grew its stake in BlackRock MuniYield Michigan Quality Fund by 11.8% during the fourth 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 during the last quarter. Stifel Financial Corp grew its stake in shares of BlackRock MuniYield Michigan Quality Fund by 25.7% during the fourth quarter. Stifel Financial Corp now owns 128,553 shares of the financial services provider’s stock valued at $1,437,000 after purchasing an additional 26,268 shares during the last quarter. LPL Financial LLC grew its stake in shares of BlackRock MuniYield Michigan Quality Fund by 55.4% during the fourth quarter. LPL Financial LLC now owns 117,812 shares of the financial services provider’s stock valued at $1,317,000 after purchasing an additional 41,989 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings 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 valued at $1,315,000 after purchasing an additional 3,612 shares in the last quarter. Institutional investors own 24.15% of the company’s stock.

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.