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

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 35,100 shares, a drop of 28.5% from the March 15th total of 49,100 shares. Based on an average daily volume of 50,400 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Investors Weigh In On BlackRock MuniYield Michigan Quality Fund

A number of institutional investors and hedge funds have recently modified their holdings of MIY. Raymond James Financial Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter worth $928,000. LPL Financial LLC lifted its stake in BlackRock MuniYield Michigan Quality Fund by 55.4% in the fourth 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 period. Bank of America Corp DE grew its holdings in BlackRock MuniYield Michigan Quality Fund by 11.8% during 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 acquiring an additional 28,252 shares in the last quarter. Stifel Financial Corp increased its position in BlackRock MuniYield Michigan Quality Fund by 25.7% during the 4th 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 period. Finally, Rivernorth Capital Management LLC raised its holdings in shares of 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 valued at $4,856,000 after purchasing an additional 25,000 shares in the last quarter. 24.15% of the stock is owned by institutional investors.

BlackRock MuniYield Michigan Quality Fund Price Performance

NYSE:MIY opened at $11.10 on Friday. The stock has a 50-day simple moving average of $11.43 and a two-hundred day simple moving average of $11.56. BlackRock MuniYield Michigan Quality Fund has a 52-week low of $10.81 and a 52-week high of $12.11.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a $0.0545 dividend. This represents a $0.65 annualized dividend and a dividend yield of 5.89%. The ex-dividend date is Tuesday, April 15th.

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.