Short Interest in BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Decreases By 51.2%

Key Points

• Short interest in BlackRock MuniYield Michigan Quality Fund fell by 51.2% in April to 38,649 shares (about 0.1% of shares), leaving a short-interest ratio of 0.5 days.
• The fund declared a monthly dividend of $0.0545 per share payable July 1 (record/ex-dividend date June 15), implying an annualized yield of 5.5%.
• MIY opened at $11.92 with a 50‑day/200‑day moving average of $12.14/$11.90 and a 12‑month trading range of $10.57–$12.90.

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY - Get Free Report) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 38,649 shares, a decline of 51.2% from the March 31st total of 79,143 shares. Approximately 0.1% of the company's shares are sold short. Based on an average daily volume of 79,841 shares, the short-interest ratio is currently 0.5 days.

BlackRock MuniYield Michigan Quality Fund Stock Performance

MIY stock opened at $11.92 on Friday. The firm's 50-day moving average price is $12.14 and its two-hundred day moving average price is $11.90. BlackRock MuniYield Michigan Quality Fund has a 12-month low of $10.57 and a 12-month high of $12.90.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a $0.0545 dividend. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%.

Hedge Funds Weigh In On BlackRock MuniYield Michigan Quality Fund

Hedge funds have recently modified their holdings of the company. Axxcess Wealth Management LLC increased its position in shares of BlackRock MuniYield Michigan Quality Fund by 4.2% during the fourth quarter. Axxcess Wealth Management LLC now owns 32,200 shares of the financial services provider's stock valued at $378,000 after buying an additional 1,300 shares during the period. Capital Asset Advisory Services LLC increased its position 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 buying an additional 1,300 shares during the period. Royal Bank of Canada increased its position in shares of BlackRock MuniYield Michigan Quality Fund by 2.7% during the fourth quarter. Royal Bank of Canada now owns 57,917 shares of the financial services provider's stock valued at $680,000 after buying an additional 1,503 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of BlackRock MuniYield Michigan Quality Fund by 1.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 138,143 shares of the financial services provider's stock valued at $1,622,000 after buying an additional 1,661 shares during the period. Finally, Elevation Point Wealth Partners LLC increased its position in shares of BlackRock MuniYield Michigan Quality Fund by 7.4% during the fourth quarter. Elevation Point Wealth Partners LLC now owns 46,672 shares of the financial services provider's stock valued at $548,000 after buying an additional 3,200 shares during the period. Hedge funds and other institutional investors own 24.15% of the company's stock.

About BlackRock MuniYield Michigan Quality Fund

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.

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