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

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) saw a significant increase in short interest in October. As of October 15th, there was short interest totalling 32,100 shares, an increase of 154.8% from the September 30th total of 12,600 shares. Based on an average daily volume of 56,900 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers bought a new position in shares of BlackRock MuniYield Michigan Quality Fund in the 1st quarter valued at $2,026,000. Robinson Capital Management LLC grew its position in shares of BlackRock MuniYield Michigan Quality Fund by 13.5% during the 1st quarter. Robinson Capital Management LLC now owns 618,081 shares of the financial services provider’s stock worth $6,839,000 after buying an additional 73,671 shares during the period. Allspring Global Investments Holdings LLC increased its stake in BlackRock MuniYield Michigan Quality Fund by 52.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 205,905 shares of the financial services provider’s stock valued at $2,356,000 after purchasing an additional 70,823 shares in the last quarter. West Michigan Advisors LLC bought a new stake in BlackRock MuniYield Michigan Quality Fund in the 3rd quarter valued at about $248,000. Finally, Rockport Wealth LLC acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund during the first quarter worth approximately $222,000. 24.15% of the stock is currently owned by institutional investors and hedge funds.

BlackRock MuniYield Michigan Quality Fund Stock Up 1.0 %

MIY stock traded up $0.12 during mid-day trading on Friday, reaching $11.70. The company had a trading volume of 56,464 shares, compared to its average volume of 51,343. BlackRock MuniYield Michigan Quality Fund has a 52 week low of $9.45 and a 52 week high of $12.11. The stock has a 50 day simple moving average of $11.86 and a two-hundred day simple moving average of $11.55.

BlackRock MuniYield Michigan Quality Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be issued a $0.0545 dividend. This is a boost from BlackRock MuniYield Michigan Quality Fund’s previous monthly dividend of $0.05. This represents a $0.65 annualized dividend and a yield of 5.59%. The ex-dividend date is Tuesday, October 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.