Short Interest in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Rises By 35.1%

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 83,814 shares, a growth of 35.1% from the December 31st total of 62,047 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily volume of 45,792 shares, the short-interest ratio is currently 1.8 days. Based on an average daily volume of 45,792 shares, the short-interest ratio is currently 1.8 days. Currently, 0.3% of the company’s shares are short sold.

Institutional Trading of BlackRock MuniYield Michigan Quality Fund

A number of institutional investors and hedge funds have recently modified their holdings of MIY. Foresight Capital Management Advisors Inc. raised its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 36.2% during the fourth quarter. Foresight Capital Management Advisors Inc. now owns 39,131 shares of the financial services provider’s stock worth $459,000 after acquiring an additional 10,408 shares in the last quarter. Summit Financial Consulting LLC boosted its stake in BlackRock MuniYield Michigan Quality Fund by 11.5% in the 4th quarter. Summit Financial Consulting LLC now owns 33,081 shares of the financial services provider’s stock valued at $388,000 after buying an additional 3,416 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in BlackRock MuniYield Michigan Quality Fund by 1.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 138,143 shares of the financial services provider’s stock worth $1,622,000 after acquiring an additional 1,661 shares during the last quarter. Capital Asset Advisory Services LLC grew its stake in shares of BlackRock MuniYield Michigan Quality Fund by 4.2% during the fourth quarter. Capital Asset Advisory Services LLC now owns 32,200 shares of the financial services provider’s stock valued at $378,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the third quarter worth approximately $492,000. 24.15% of the stock is owned by institutional investors and hedge funds.

BlackRock MuniYield Michigan Quality Fund Price Performance

Shares of MIY stock traded up $0.03 during midday trading on Friday, reaching $12.10. 38,210 shares of the company traded hands, compared to its average volume of 46,414. The firm’s 50 day simple moving average is $11.84 and its two-hundred day simple moving average is $11.48. BlackRock MuniYield Michigan Quality Fund has a 1-year low of $10.57 and a 1-year high of $12.32.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a dividend of $0.0545 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) annualized dividend and a yield of 5.4%.

BlackRock MuniYield Michigan Quality Fund Company Profile

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.