BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Short Interest Up 37.7% in December

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 48,076 shares, an increase of 37.7% from the November 30th total of 34,901 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 71,742 shares, the short-interest ratio is presently 0.7 days. Based on an average trading volume of 71,742 shares, the short-interest ratio is presently 0.7 days. Approximately 0.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund

Several institutional investors have recently bought and sold shares of MIY. Oliver Lagore Vanvalin Investment Group purchased a new stake in BlackRock MuniYield Michigan Quality Fund in the 2nd quarter worth $46,000. PNC Financial Services Group Inc. bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the second quarter worth about $61,000. Wolverine Asset Management LLC bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the third quarter worth about $84,000. Regal Investment Advisors LLC purchased a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the third quarter worth about $146,000. Finally, Summit Financial Consulting LLC boosted its stake in BlackRock MuniYield Michigan Quality Fund by 10.7% during the second quarter. Summit Financial Consulting LLC now owns 27,444 shares of the financial services provider’s stock valued at $303,000 after buying an additional 2,643 shares during the last quarter. 24.15% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniYield Michigan Quality Fund Stock Down 0.5%

MIY traded down $0.06 on Tuesday, hitting $11.76. 159,568 shares of the company’s stock traded hands, compared to its average volume of 59,905. The company’s 50 day simple moving average is $11.61 and its 200-day simple moving average is $11.31. BlackRock MuniYield Michigan Quality Fund has a one year low of $10.57 and a one year high of $11.89.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be given a dividend of $0.0545 per share. The ex-dividend date is Monday, December 22nd. This represents a c) annualized dividend and a dividend yield of 5.6%.

BlackRock MuniYield Michigan Quality Fund Company Profile

BlackRock MuniYield Michigan Quality Fund (NYSE: MIY) is a closed-end management investment company that seeks to provide current income exempt from federal and Michigan personal income taxes. The fund primarily invests in investment-grade municipal securities issued by state and local governments within Michigan. Its portfolio typically includes a diversified mix of general obligation bonds and revenue bonds backed by public utilities, transportation projects, and other essential municipal services.

The fund’s investment strategy emphasizes credit quality and diversification across sectors and maturities.