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

BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE:MIY) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 12,600 shares, a decrease of 36.4% from the September 15th total of 19,800 shares. Based on an average daily volume of 55,300 shares, the short-interest ratio is presently 0.2 days.

BlackRock MuniYield Michigan Quality Fund Price Performance

MIY opened at $11.92 on Friday. The business’s 50-day moving average price is $11.84 and its two-hundred day moving average price is $11.52. BlackRock MuniYield Michigan Quality Fund has a 1 year low of $9.45 and a 1 year high of $12.11.

BlackRock MuniYield Michigan Quality Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be given a $0.0545 dividend. This represents a $0.65 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date of this dividend is Tuesday, October 15th. This is a positive change from BlackRock MuniYield Michigan Quality Fund’s previous monthly dividend of $0.05.

Institutional Investors Weigh In On BlackRock MuniYield Michigan Quality Fund

Several institutional investors have recently bought and sold shares of the company. Scarborough Advisors LLC bought a new stake in BlackRock MuniYield Michigan Quality Fund during the 4th quarter worth about $79,000. Wolverine Asset Management LLC bought a new position in BlackRock MuniYield Michigan Quality Fund in the second quarter valued at approximately $127,000. Axxcess Wealth Management LLC increased its position in shares of BlackRock MuniYield Michigan Quality Fund by 7.7% during the 1st quarter. Axxcess Wealth Management LLC now owns 18,150 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 1,300 shares during the last quarter. Capital Asset Advisory Services LLC raised its stake in shares of BlackRock MuniYield Michigan Quality Fund by 7.7% during the 1st quarter. Capital Asset Advisory Services LLC now owns 18,150 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Rockport Wealth LLC acquired a new stake in shares of BlackRock MuniYield Michigan Quality Fund in the 1st quarter valued at approximately $222,000. Institutional investors own 24.15% of the company’s stock.

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.