Short Interest in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Declines By 42.3%

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) was the recipient of a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 28,000 shares, a decrease of 42.3% from the January 31st total of 48,500 shares. Based on an average trading volume of 66,600 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On BlackRock MuniYield Michigan Quality Fund

A number of institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can lifted its stake in shares of 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 acquiring an additional 913 shares during the period. Wells Fargo & Company MN raised its holdings in BlackRock MuniYield Michigan Quality Fund by 3.2% during the 4th quarter. Wells Fargo & Company MN now owns 117,579 shares of the financial services provider’s stock worth $1,315,000 after purchasing an additional 3,612 shares during the last quarter. Elequin Capital LP bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the 4th quarter valued at $49,000. Nomura Holdings Inc. bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the 4th quarter valued at $135,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the fourth quarter worth $154,000. Institutional investors own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Price Performance

Shares of NYSE:MIY traded down $0.04 during mid-day trading on Tuesday, reaching $11.70. 36,153 shares of the company’s stock were exchanged, compared to its average volume of 48,815. BlackRock MuniYield Michigan Quality Fund has a twelve month low of $10.97 and a twelve month high of $12.11. The business’s fifty day moving average price is $11.47 and its 200-day moving average price is $11.67.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.0545 per share. This represents a $0.65 annualized dividend and a yield of 5.59%. The ex-dividend date was Friday, February 14th.

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.