BlackRock MuniYield Michigan Quality Fund
MIY
24 hedge funds and large institutions have $9.2M invested in BlackRock MuniYield Michigan Quality Fund in 2014 Q1 according to their latest regulatory filings, with 2 funds opening new positions, 5 increasing their positions, 10 reducing their positions, and 7 closing their positions.
0.6% less ownership
Funds ownership: 4.49% → 3.89% (-0.6%)
6% less capital invested
Capital invested by funds: $9.8M → $9.2M (-$595K)
17% less funds holding
Funds holding: 29 → 24 (-5)
50% less repeat investments, than reductions
Existing positions increased: 5 | Existing positions reduced: 10
71% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 7
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TC
TFS Capital
West Chester,
Pennsylvania
|
+$353K |
| 2 |
AQR Capital Management
Greenwich,
Connecticut
|
+$172K |
| 3 |
AllianceBernstein
Nashville,
Tennessee
|
+$130K |
| 4 |
Wells Fargo
San Francisco,
California
|
+$62.9K |
| 5 |
RCAG
Rehmann Capital Advisory Group
Lansing,
Michigan
|
+$40.2K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UCFA
United Capital Financial Advisors
Irving,
Texas
|
-$361K |
| 2 |
MIG
Mariner Investment Group
Harrison,
New York
|
-$357K |
| 3 |
DA
Doliver Advisors
Houston,
Texas
|
-$326K |
| 4 |
Barclays
London,
United Kingdom
|
-$230K |
| 5 |
WAM
Weiss Asset Management
Boston,
Massachusetts
|
-$187K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
MIG
26
Mariner Investment Group
Harrison,
New York
| – | -$357K | -28,656 | Closed |
|
|
27
Barclays
London,
United Kingdom
| – | -$230K | -19,142 | Closed |
|
|
OFG
28
OTA Financial Group
Purchase,
New York
| – | -$209 | -16,780 | Closed |
|
|
WAM
29
Weiss Asset Management
Boston,
Massachusetts
| – | -$187K | -14,988 | Closed |
|
30
SG Americas Securities
New York
| – | -$158K | -12,661 | Closed |
|
|
BIM
31
BlackRock Investment Management
Wilmington,
Delaware
| – | -$31K | -2,500 | Closed |
|
MIY Hedge Fund Activity: Q1 2014 in Review
24 of the 3,463 institutional investors tracked by Wall St. Rank reported a position in BlackRock MuniYield Michigan Quality Fund (MIY) for Q1 2014, worth a combined $9.2M — down 6.1% from $9.8M a quarter earlier.
Sellers outnumbered buyers: 7 funds closed out of MIY and 2 opened new positions — a net loss of 5 holders — while 10 trimmed existing stakes and 5 added.
The largest buyer was TFS Capital, opening a new position worth an estimated $353K. The largest seller was United Capital Financial Advisors, exiting entirely with an estimated $361K sold.
- 24 institutional investors held BlackRock MuniYield Michigan Quality Fund (MIY) as of Q1 2014, down from 29 in Q4 2013.
- Funds reported $9.2M of BlackRock MuniYield Michigan Quality Fund stock for Q1 2014, down 6.1% quarter-over-quarter.
- 2 funds opened new BlackRock MuniYield Michigan Quality Fund positions in Q1 2014 and 7 closed out, a net change of -5 holders.
- The largest BlackRock MuniYield Michigan Quality Fund buyer in Q1 2014 was TFS Capital, an estimated $353K added.
- The largest BlackRock MuniYield Michigan Quality Fund seller in Q1 2014 was United Capital Financial Advisors, an estimated $361K sold.
Based on aggregated 13F filings for Q1 2014.