BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 49,100 shares, an increase of 220.9% from the February 28th total of 15,300 shares. Based on an average daily volume of 57,900 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.2% of the shares of the company are sold short.
Institutional Trading of BlackRock MuniYield Michigan Quality Fund
Hedge funds have recently bought and sold shares of the stock. Elequin Capital LP bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the fourth quarter valued at about $49,000. Nomura Holdings Inc. acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter worth approximately $135,000. PNC Financial Services Group Inc. acquired a new position in shares of BlackRock MuniYield Michigan Quality Fund in the fourth quarter valued at $154,000. Bank of Montreal Can lifted its position in BlackRock MuniYield Michigan Quality Fund by 4.8% in the fourth quarter. Bank of Montreal Can now owns 19,740 shares of the financial services provider's stock worth $221,000 after purchasing an additional 913 shares during the period. Finally, Baird Financial Group Inc. boosted its stake in BlackRock MuniYield Michigan Quality Fund by 91.0% during the fourth quarter. Baird Financial Group Inc. now owns 38,513 shares of the financial services provider's stock worth $431,000 after buying an additional 18,351 shares in the last quarter. 24.15% of the stock is owned by institutional investors.
BlackRock MuniYield Michigan Quality Fund Stock Performance
MIY traded up $0.06 during midday trading on Monday, reaching $11.36. The company's stock had a trading volume of 54,839 shares, compared to its average volume of 48,694. BlackRock MuniYield Michigan Quality Fund has a twelve month low of $10.97 and a twelve month high of $12.11. The company has a fifty day simple moving average of $11.53 and a 200 day simple moving average of $11.64.
BlackRock MuniYield Michigan Quality Fund Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.0545 per share. This represents a $0.65 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date is Friday, March 14th.
BlackRock MuniYield Michigan Quality Fund Company Profile
(
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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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