BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Get Free Report) saw a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 28,000 shares, a decline of 42.3% from the January 31st total of 48,500 shares. Based on an average daily volume of 66,600 shares, the days-to-cover ratio is presently 0.4 days.
BlackRock MuniYield Michigan Quality Fund Price Performance
NYSE MIY traded down $0.01 during trading on Wednesday, reaching $11.67. The company's stock had a trading volume of 37,389 shares, compared to its average volume of 49,005. The firm has a fifty day moving average of $11.49 and a 200 day moving average of $11.67. BlackRock MuniYield Michigan Quality Fund has a one year low of $10.97 and a one year high of $12.11.
BlackRock MuniYield Michigan Quality Fund Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.0545 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.65 dividend on an annualized basis and a yield of 5.61%.
Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund
Institutional investors have recently added to or reduced their stakes in the business. Elequin Capital LP bought a new position in BlackRock MuniYield Michigan Quality Fund in the 4th quarter worth about $49,000. Nomura Holdings Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter valued at about $135,000. PNC Financial Services Group Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter valued at about $154,000. Bank of Montreal Can increased its position in shares of BlackRock MuniYield Michigan Quality Fund by 4.8% during the 4th quarter. Bank of Montreal Can now owns 19,740 shares of the financial services provider's stock valued at $221,000 after purchasing an additional 913 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in shares of BlackRock MuniYield Michigan Quality Fund by 91.0% during the 4th quarter. Baird Financial Group Inc. now owns 38,513 shares of the financial services provider's stock valued at $431,000 after purchasing an additional 18,351 shares during the last quarter. 24.15% of the stock is currently owned by institutional investors.
BlackRock MuniYield Michigan Quality Fund Company Profile
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Get Free Report)
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.
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