Short Interest in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Declines By 36.4%

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 12,600 shares, a decrease of 36.4% from the September 15th total of 19,800 shares. Based on an average daily trading volume, of 55,300 shares, the short-interest ratio is presently 0.2 days.

Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC bought a new position in shares of BlackRock MuniYield Michigan Quality Fund in the fourth quarter valued at about $79,000. Wolverine Asset Management LLC acquired a new position in BlackRock MuniYield Michigan Quality Fund in the 2nd quarter valued at about $127,000. Axxcess Wealth Management LLC raised its holdings in BlackRock MuniYield Michigan Quality Fund by 7.7% in the 1st quarter. Axxcess Wealth Management LLC now owns 18,150 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 1,300 shares during the period. Capital Asset Advisory Services LLC lifted its position in BlackRock MuniYield Michigan Quality Fund by 7.7% during the first quarter. Capital Asset Advisory Services LLC now owns 18,150 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Rockport Wealth LLC acquired a new stake in BlackRock MuniYield Michigan Quality Fund during the first quarter worth approximately $222,000. 24.15% of the stock is owned by institutional investors.

BlackRock MuniYield Michigan Quality Fund Stock Up 0.2 %

MIY opened at $11.92 on Friday. BlackRock MuniYield Michigan Quality Fund has a 12-month low of $9.45 and a 12-month high of $12.11. The business has a 50 day moving average of $11.84 and a 200-day moving average of $11.52.

BlackRock MuniYield Michigan Quality Fund Increases Dividend

The firm 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 dividend of $0.0545 per share. This is an increase from BlackRock MuniYield Michigan Quality Fund’s previous monthly dividend of $0.05. The ex-dividend date is Tuesday, October 15th. This represents a $0.65 annualized dividend and a yield of 5.49%.

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.