Short Interest in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Decreases By 48.3%

Key Points

• Short interest for BlackRock MuniYield Michigan Quality Fund decreased by 48.3% in September, dropping to 7,800 shares.
• The fund recently declared a monthly dividend of $0.0545 per share, with an ex-dividend date set for October 15th, leading to a 5.7% annualized yield.
• Approximately 24.15% of the fund's stock is owned by institutional investors, indicating a shift in investment interest.

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - ) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totaling 7,800 shares, a decrease of 48.3% from the September 15th total of 15,100 shares. Based on an average daily volume of 63,600 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 63,600 shares, the short-interest ratio is currently 0.1 days.

BlackRock MuniYield Michigan Quality Fund Stock Performance

NYSE:MIY opened at $11.45 on Monday. BlackRock MuniYield Michigan Quality Fund has a one year low of $10.57 and a one year high of $12.09. The business has a fifty day moving average price of $11.30 and a 200-day moving average price of $11.21.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th will be issued a dividend of $0.0545 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 5.7%.

Institutional Investors Weigh In On BlackRock MuniYield Michigan Quality Fund

A number of institutional investors and hedge funds have recently bought and sold shares of MIY. Oliver Lagore Vanvalin Investment Group bought a new stake in BlackRock MuniYield Michigan Quality Fund during the second quarter valued at about $46,000. PNC Financial Services Group Inc. bought a new stake in BlackRock MuniYield Michigan Quality Fund during the second quarter valued at about $61,000. Shufro Rose & Co. LLC raised its holdings in BlackRock MuniYield Michigan Quality Fund by 40.0% during the first quarter. Shufro Rose & Co. LLC now owns 17,500 shares of the financial services provider's stock valued at $199,000 after acquiring an additional 5,000 shares during the period. Summit Financial Consulting LLC bought a new stake in BlackRock MuniYield Michigan Quality Fund during the first quarter valued at about $282,000. Finally, Foresight Capital Management Advisors Inc. raised its holdings in BlackRock MuniYield Michigan Quality Fund by 8.3% during the second quarter. Foresight Capital Management Advisors Inc. now owns 28,723 shares of the financial services provider's stock valued at $317,000 after acquiring an additional 2,199 shares during the period. 24.15% of the stock is owned by institutional investors.

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.

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