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

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 118,150 shares, a growth of 19.3% from the February 26th total of 99,036 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average trading volume of 57,266 shares, the short-interest ratio is currently 2.1 days.

Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund

A number of large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund during the second quarter valued at $61,000. Raymond James Financial Inc. grew its position in BlackRock MuniYield Michigan Quality Fund by 17.3% in the 2nd quarter. Raymond James Financial Inc. now owns 96,997 shares of the financial services provider’s stock worth $1,071,000 after purchasing an additional 14,321 shares during the last quarter. Bank of America Corp DE increased its stake in shares of BlackRock MuniYield Michigan Quality Fund by 8.6% in the second quarter. Bank of America Corp DE now owns 292,928 shares of the financial services provider’s stock valued at $3,234,000 after purchasing an additional 23,207 shares during the period. Summit Financial Consulting LLC increased its stake in shares of BlackRock MuniYield Michigan Quality Fund by 8.1% in the third quarter. Summit Financial Consulting LLC now owns 29,665 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 2,221 shares during the period. Finally, Wolverine Asset Management LLC bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the third quarter valued at approximately $84,000. Institutional investors own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Stock Up 1.3%

Shares of MIY stock traded up $0.16 during mid-day trading on Tuesday, reaching $11.86. 87,632 shares of the company were exchanged, compared to its average volume of 51,212. The business’s 50 day simple moving average is $12.26 and its 200 day simple moving average is $11.83. BlackRock MuniYield Michigan Quality Fund has a fifty-two week low of $10.57 and a fifty-two week high of $12.90.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a dividend of $0.0545 per share. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a yield of 5.5%.

About BlackRock MuniYield Michigan Quality Fund

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.