BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Short Interest Update

Key Points

• BlackRock MuniYield Michigan Quality Fund experienced a significant increase in short interest of 104.1% in September, climbing to 15,100 shares from 7,400 shares in August.
• The fund has announced a monthly dividend of $0.0545 per share, with a record date of October 15th and a pay date of November 3rd, representing an annualized yield of 5.8%.
• Institutional investors own 24.15% of the company's stock, with several firms, including Well Done LLC and Melone Private Wealth LLC, increasing their stakes in the fund during the first half of 2023.

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - ) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 15,100 shares, a growth of 104.1% from the August 31st total of 7,400 shares. Based on an average daily volume of 61,300 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 61,300 shares, the short-interest ratio is currently 0.2 days.

Institutional Trading of BlackRock MuniYield Michigan Quality Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. Well Done LLC raised its stake in BlackRock MuniYield Michigan Quality Fund by 0.6% during the first quarter. Well Done LLC now owns 177,360 shares of the financial services provider's stock worth $1,983,000 after acquiring an additional 1,000 shares during the period. Melone Private Wealth LLC lifted its holdings in shares of BlackRock MuniYield Michigan Quality Fund by 0.5% in the 1st quarter. Melone Private Wealth LLC now owns 369,257 shares of the financial services provider's stock worth $4,202,000 after purchasing an additional 1,891 shares during the last quarter. Foresight Capital Management Advisors Inc. boosted its position 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 purchasing an additional 2,199 shares during the period. Summit Financial Consulting LLC increased its position in BlackRock MuniYield Michigan Quality Fund by 10.7% in the second quarter. Summit Financial Consulting LLC now owns 27,444 shares of the financial services provider's stock worth $303,000 after buying an additional 2,643 shares during the period. Finally, Capital Asset Advisory Services LLC lifted its stake in BlackRock MuniYield Michigan Quality Fund by 8.4% in the second quarter. Capital Asset Advisory Services LLC now owns 34,700 shares of the financial services provider's stock valued at $385,000 after buying an additional 2,700 shares during the last quarter. Institutional investors and hedge funds own 24.15% of the company's stock.

BlackRock MuniYield Michigan Quality Fund Trading Down 0.3%

MIY traded down $0.03 on Friday, reaching $11.25. The company's stock had a trading volume of 82,280 shares, compared to its average volume of 59,403. BlackRock MuniYield Michigan Quality Fund has a 1 year low of $10.57 and a 1 year high of $12.09. The business's 50 day moving average is $11.22 and its 200 day moving average is $11.21.

BlackRock MuniYield Michigan Quality Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th will be paid a dividend of $0.0545 per share. The ex-dividend date is Wednesday, October 15th. This represents a c) annualized dividend and a yield of 5.8%.

About BlackRock MuniYield Michigan Quality Fund

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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