BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Get Free Report) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 92,600 shares, an increase of 21.4% from the April 30th total of 76,300 shares. Based on an average daily trading volume, of 54,000 shares, the short-interest ratio is presently 1.7 days. Currently, 0.3% of the shares of the stock are short sold.
BlackRock MuniYield Michigan Quality Fund Trading Up 0.1%
Shares of MIY stock traded up $0.01 during trading on Friday, hitting $11.37. The company had a trading volume of 49,691 shares, compared to its average volume of 56,422. The stock's 50-day moving average price is $11.33 and its 200 day moving average price is $11.46. BlackRock MuniYield Michigan Quality Fund has a one year low of $10.81 and a one year high of $12.11.
BlackRock MuniYield Michigan Quality Fund Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.0545 dividend. This represents a $0.65 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend is Friday, June 13th.
Institutional Investors Weigh In On BlackRock MuniYield Michigan Quality Fund
Several institutional investors have recently made changes to their positions in MIY. FSA Advisors Inc. bought a new stake in BlackRock MuniYield Michigan Quality Fund during the first quarter worth $1,166,000. Raymond James Financial Inc. bought a new stake in BlackRock MuniYield Michigan Quality Fund during the fourth quarter worth $928,000. LPL Financial LLC lifted its stake in BlackRock MuniYield Michigan Quality Fund by 55.4% during the fourth quarter. LPL Financial LLC now owns 117,812 shares of the financial services provider's stock worth $1,317,000 after purchasing an additional 41,989 shares during the last quarter. Kestra Advisory Services LLC lifted its stake in BlackRock MuniYield Michigan Quality Fund by 19.6% during the first quarter. Kestra Advisory Services LLC now owns 255,984 shares of the financial services provider's stock worth $2,913,000 after purchasing an additional 41,945 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in BlackRock MuniYield Michigan Quality Fund by 11.8% during the fourth quarter. Bank of America Corp DE now owns 268,116 shares of the financial services provider's stock worth $2,998,000 after purchasing an additional 28,252 shares during the last quarter. 24.15% of the stock is currently owned by institutional investors.
BlackRock MuniYield Michigan Quality Fund Company Profile
(
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.
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