BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Short Interest Up 29.1% in December

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) saw a large increase in short interest in December. As of December 31st, there was short interest totaling 62,047 shares, an increase of 29.1% from the December 15th total of 48,076 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 114,997 shares, the days-to-cover ratio is presently 0.5 days. Based on an average trading volume of 114,997 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the company’s stock are short sold.

BlackRock MuniYield Michigan Quality Fund Trading Up 0.0%

NYSE:MIY traded up $0.01 during mid-day trading on Friday, hitting $12.20. 40,891 shares of the company’s stock were exchanged, compared to its average volume of 72,228. BlackRock MuniYield Michigan Quality Fund has a one year low of $10.57 and a one year high of $12.32. The business has a fifty day moving average price of $11.73 and a 200 day moving average price of $11.40.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be paid a $0.0545 dividend. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Friday, March 13th.

Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund

A number of hedge funds have recently added to or reduced their stakes in MIY. FSA Advisors Inc. increased its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 117.0% in the 2nd quarter. FSA Advisors Inc. now owns 218,413 shares of the financial services provider’s stock worth $2,411,000 after purchasing an additional 117,754 shares in the last quarter. Oliver Lagore Vanvalin Investment Group bought a new stake in BlackRock MuniYield Michigan Quality Fund in the 2nd quarter worth about $46,000. PNC Financial Services Group Inc. purchased a new position in BlackRock MuniYield Michigan Quality Fund in the 2nd quarter worth about $61,000. Foresight Capital Management Advisors Inc. lifted its stake in BlackRock MuniYield Michigan Quality Fund by 8.3% during the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 28,723 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 2,199 shares during the period. Finally, Melfa Wealth Management Inc. boosted its holdings in BlackRock MuniYield Michigan Quality Fund by 6.8% in the second quarter. Melfa Wealth Management Inc. now owns 52,790 shares of the financial services provider’s stock worth $583,000 after purchasing an additional 3,363 shares during the last quarter. 24.15% of the stock is currently owned by hedge funds and other institutional investors.

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.