BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Get Free Report) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 104,800 shares, an increase of 198.6% from the March 31st total of 35,100 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 51,700 shares, the short-interest ratio is presently 2.0 days.
BlackRock MuniYield Michigan Quality Fund Stock Performance
Shares of NYSE MIY traded down $0.04 during mid-day trading on Friday, hitting $11.44. 1,633 shares of the stock were exchanged, compared to its average volume of 56,666. BlackRock MuniYield Michigan Quality Fund has a twelve month low of $10.81 and a twelve month high of $12.11. The stock's fifty day simple moving average is $11.36 and its two-hundred day simple moving average is $11.51.
BlackRock MuniYield Michigan Quality Fund Announces Dividend
The firm also recently disclosed a monthly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were given a $0.0545 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.65 annualized dividend and a yield of 5.72%.
Institutional Trading of BlackRock MuniYield Michigan Quality Fund
Several large investors have recently made changes to their positions in MIY. Elequin Capital LP bought a new stake in BlackRock MuniYield Michigan Quality Fund during the 4th quarter worth about $49,000. Simon Quick Advisors LLC bought a new stake in shares of BlackRock MuniYield Michigan Quality Fund during the first quarter valued at approximately $116,000. Nomura Holdings Inc. acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the fourth quarter valued at approximately $135,000. PNC Financial Services Group Inc. bought a new position in BlackRock MuniYield Michigan Quality Fund in the 4th quarter worth approximately $154,000. Finally, Bank of Montreal Can lifted its holdings in 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 worth $221,000 after buying an additional 913 shares in the last quarter. Institutional investors own 24.15% of the company's stock.
About BlackRock MuniYield Michigan Quality Fund
(
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.
Further Reading
Before you consider BlackRock MuniYield Michigan Quality Fund, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BlackRock MuniYield Michigan Quality Fund wasn't on the list.
While BlackRock MuniYield Michigan Quality Fund currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
