Short Interest in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Declines By 28.5%

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Get Free Report) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 35,100 shares, a decline of 28.5% from the March 15th total of 49,100 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 50,400 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Trading of BlackRock MuniYield Michigan Quality Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Well Done LLC grew its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 0.6% in the 1st quarter. Well Done LLC now owns 177,360 shares of the financial services provider's stock worth $1,983,000 after purchasing an additional 1,000 shares during the last quarter. Simon Quick Advisors LLC bought a new stake in BlackRock MuniYield Michigan Quality Fund during the first quarter worth about $116,000. Melone Private Wealth LLC increased its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 0.5% during the first quarter. Melone Private Wealth LLC now owns 369,257 shares of the financial services provider's stock worth $4,202,000 after buying an additional 1,891 shares in the last quarter. Capital Asset Advisory Services LLC raised its stake in shares of BlackRock MuniYield Michigan Quality Fund by 66.2% in the first quarter. Capital Asset Advisory Services LLC now owns 32,000 shares of the financial services provider's stock valued at $369,000 after acquiring an additional 12,750 shares during the last quarter. Finally, Elequin Capital LP acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund in the 4th quarter worth approximately $49,000. Institutional investors own 24.15% of the company's stock.

BlackRock MuniYield Michigan Quality Fund Trading Up 1.0 %

Shares of BlackRock MuniYield Michigan Quality Fund stock traded up $0.11 during trading on Wednesday, reaching $11.13. The company's stock had a trading volume of 17,589 shares, compared to its average volume of 56,629. The business's fifty day moving average price is $11.41 and its 200-day moving average price is $11.54. BlackRock MuniYield Michigan Quality Fund has a one year low of $10.81 and a one year high of $12.11.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a $0.0545 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.88%.

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.