BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) Short Interest Down 42.3% in February

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) was the target of a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 28,000 shares, a decrease of 42.3% from the January 31st total of 48,500 shares. Based on an average daily volume of 66,600 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Trading of BlackRock MuniYield Michigan Quality Fund

A number of institutional investors have recently bought and sold shares of MIY. Bank of Montreal Can lifted its stake in shares of BlackRock MuniYield Michigan Quality Fund by 4.8% in the 4th quarter. Bank of Montreal Can now owns 19,740 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 913 shares during the period. Wells Fargo & Company MN increased its holdings in BlackRock MuniYield Michigan Quality Fund by 3.2% in the fourth quarter. Wells Fargo & Company MN now owns 117,579 shares of the financial services provider’s stock worth $1,315,000 after purchasing an additional 3,612 shares in the last quarter. Elequin Capital LP acquired a new position in BlackRock MuniYield Michigan Quality Fund in the fourth quarter valued at approximately $49,000. Nomura Holdings Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter worth approximately $135,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of BlackRock MuniYield Michigan Quality Fund during the 4th quarter worth approximately $154,000. Institutional investors own 24.15% of the company’s stock.

BlackRock MuniYield Michigan Quality Fund Stock Up 0.3 %

Shares of NYSE MIY traded up $0.04 during midday trading on Monday, reaching $11.72. The stock had a trading volume of 91,556 shares, compared to its average volume of 49,274. The company’s 50 day moving average price is $11.46 and its 200 day moving average price is $11.67. BlackRock MuniYield Michigan Quality Fund has a twelve month low of $10.97 and a twelve month high of $12.11.

BlackRock MuniYield Michigan Quality Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a $0.0545 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.65 annualized dividend and a yield of 5.58%.

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.