BlackRock MuniYield Michigan Quality Fund
MIY
34 hedge funds and large institutions have $32.4M invested in BlackRock MuniYield Michigan Quality Fund in 2016 Q1 according to their latest regulatory filings, with 3 funds opening new positions, 11 increasing their positions, 12 reducing their positions, and 5 closing their positions.
8% less repeat investments, than reductions
Existing positions increased: 11 | Existing positions reduced: 12
1.3% less ownership
Funds ownership: 8.89% → 7.59% (-1.3%)
6% less funds holding
Funds holding: 36 → 34 (-2)
11% less capital invested
Capital invested by funds: $36.4M → $32.4M (-$4.03M)
40% less first-time investments, than exits
New positions opened: 3 | Existing positions closed: 5
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
+$335K |
| 2 |
FIMG
Financial & Investment Management Group
Traverse City,
Michigan
|
+$289K |
| 3 |
UBS Group
Zurich,
Switzerland
|
+$181K |
| 4 |
IIC
Integrated Investment Consultants
Bloomfield Hills,
Michigan
|
+$142K |
| 5 |
Wells Fargo
San Francisco,
California
|
+$60.5K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$1.48M |
| 2 |
LCM
Laurion Capital Management
New York
|
-$1.04M |
| 3 |
LCM
Landscape Capital Management
Englewood,
New Jersey
|
-$993K |
| 4 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$756K |
| 5 |
AA
AQR Arbitrage
Greenwich,
Connecticut
|
-$594K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
IIC
26
Integrated Investment Consultants
Bloomfield Hills,
Michigan
| $148K | +$142K | +10,000 | New |
|
27
Fifth Third Bancorp
Cincinnati,
Ohio
| $132K | +$42.7K | +3,000 | +49% |
|
|
IA
28
IFP Advisors
Tampa,
Florida
| $94K | -$184K | -12,972 | -65% |
|
|
WAM
29
Wolverine Asset Management
Chicago,
Illinois
| $75K | -$756K | -53,205 | -91% |
|
|
AIG
30
American International Group
New York
| $68K | – | – | – |
|
|
MBT
31
Monroe Bank & Trust
Monroe,
Michigan
| $60K | – | – | – |
|
|
AI
32
ArchPoint Investors
Coral Gables,
Florida
| $16K | – | – | – |
|
|
TRCT
33
Tower Research Capital (TRC)
New York
| $8K | +$7.63K | +537 | New |
|
34
Northern Trust
Chicago,
Illinois
| $5K | -$10K | -704 | -2% |
|
|
LCM
35
Laurion Capital Management
New York
| – | -$1.04M | -74,497 | Closed |
|
|
PA
36
Planning Alternatives
Birmingham,
Michigan
| – | -$370K | -26,532 | Closed |
|
37
SG Americas Securities
New York
| – | -$325K | -23,289 | Closed |
|
|
CB
38
Chemical Bank
Detroit,
Michigan
| – | -$162K | -11,583 | Closed |
|
39
Citigroup
New York
| – | +$455 | +32 | +1,600% |
|
MIY Hedge Fund Activity: Q1 2016 in Review
34 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in BlackRock MuniYield Michigan Quality Fund (MIY) for Q1 2016, worth a combined $32.4M — down 11% from $36.4M a quarter earlier.
Sellers outnumbered buyers: 5 funds closed out of MIY and 3 opened new positions — a net loss of 2 holders — while 12 trimmed existing stakes and 11 added.
The largest buyer was Bank of America, adding an estimated $335K. The largest seller was Karpus Investment Management, cutting an estimated $1.48M.
- 34 institutional investors held BlackRock MuniYield Michigan Quality Fund (MIY) as of Q1 2016, down from 36 in Q4 2015.
- Funds reported $32.4M of BlackRock MuniYield Michigan Quality Fund stock for Q1 2016, down 11% quarter-over-quarter.
- 3 funds opened new BlackRock MuniYield Michigan Quality Fund positions in Q1 2016 and 5 closed out, a net change of -2 holders.
- The largest BlackRock MuniYield Michigan Quality Fund buyer in Q1 2016 was Bank of America, an estimated $335K added.
- The largest BlackRock MuniYield Michigan Quality Fund seller in Q1 2016 was Karpus Investment Management, an estimated $1.48M sold.
Based on aggregated 13F filings for Q1 2016.