BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Short Interest Up 35.1% in January

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 83,814 shares, an increase of 35.1% from the December 31st total of 62,047 shares. Based on an average trading volume of 45,792 shares, the short-interest ratio is currently 1.8 days. Approximately 0.3% of the company’s stock are sold short. Approximately 0.3% of the company’s stock are sold short. Based on an average trading volume of 45,792 shares, the short-interest ratio is currently 1.8 days.

Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund

Several institutional investors and hedge funds have recently modified their holdings of MIY. PNC Financial Services Group Inc. bought a new position in BlackRock MuniYield Michigan Quality Fund in the 2nd quarter worth about $61,000. Wolverine Asset Management LLC purchased a new position in BlackRock MuniYield Michigan Quality Fund in the third quarter worth about $84,000. Regal Investment Advisors LLC bought a new position in shares of BlackRock MuniYield Michigan Quality Fund in the third quarter worth approximately $146,000. Foresight Capital Management Advisors Inc. grew its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 8.3% during the second quarter. Foresight Capital Management Advisors Inc. now owns 28,723 shares of the financial services provider’s stock valued at $317,000 after buying an additional 2,199 shares during the last quarter. Finally, Summit Financial Consulting LLC grew its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 8.1% during the third quarter. Summit Financial Consulting LLC now owns 29,665 shares of the financial services provider’s stock valued at $335,000 after buying an additional 2,221 shares during the last quarter. 24.15% of the stock is currently owned by institutional investors.

BlackRock MuniYield Michigan Quality Fund Price Performance

Shares of NYSE MIY traded down $0.07 on Tuesday, reaching $12.35. 142,562 shares of the company’s stock traded hands, compared to its average volume of 57,057. The business’s 50 day simple moving average is $11.86 and its two-hundred day simple moving average is $11.49. BlackRock MuniYield Michigan Quality Fund has a 12 month low of $10.57 and a 12 month high of $12.48.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a $0.0545 dividend. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Friday, March 13th.

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.