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BlackRock MuniYield Michigan Quality Fund
MIY

33 hedge funds and large institutions have $37.2M invested in BlackRock MuniYield Michigan Quality Fund in 2016 Q2 according to their latest regulatory filings, with 6 funds opening new positions, 5 increasing their positions, 15 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

15% more capital invested

Capital invested by funds: $32.4M → $37.2M (+$4.78M)

0.6% more ownership

Funds ownership: 7.59% → 8.19% (+0.6%)

3% less funds holding

Funds holding: 34 → 33 (-1)

14% less first-time investments, than exits

New positions opened: 6 | Existing positions closed: 7

67% less repeat investments, than reductions

Existing positions increased: 5 | Existing positions reduced: 15

Holders
33
Holders Change
-1
Holders Change %
-2.94%
% of All Funds
0.88%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
6
Increased
5
Reduced
15
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
MSL
Mackay Shields LLC
New York
+$4.69M
2
LCM
Laurion Capital Management
New York
+$1.11M
3
TC
TFS Capital
Pennsylvania
+$383K
4
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$237K
5
IA
IFP Advisors
Florida
+$227K

Top Sellers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
-$793K
2
LPL Financial
LPL Financial
California
-$514K
3
AA
AQR Arbitrage
Connecticut
-$439K
4
Morgan Stanley
Morgan Stanley
New York
-$411K
5
SIA
Sit Investment Associates
Minnesota
-$352K
Name Holding Trade Value Shares
Change 		Change in
Stake
DA
26
Doliver Advisors
Texas
$159K +$155K +10,258 New
IIC
27
Integrated Investment Consultants
Michigan
$155K – – –
Fifth Third Bancorp
28
Fifth Third Bancorp
Ohio
$140K – – –
AG
29
Advisor Group
Arizona
$62K +$61.3K +4,052 New
Creative Planning
30
Creative Planning
Kansas
$44K +$42.5K +2,809 New
AI
31
ArchPoint Investors
Florida
$17K – – –
Northern Trust
32
Northern Trust
Illinois
$6K +$49K +3,239 +9%
TRCT
33
Tower Research Capital (TRC)
New York
$3K -$5.3K -350 -65%
AA
34
AQR Arbitrage
Connecticut
– -$439K -30,139 Closed
GC
35
Guggenheim Capital
Illinois
– -$321K -22,047 Closed
FIMG
36
Financial & Investment Management Group
Michigan
– -$296K -20,348 Closed
LCM
37
Landscape Capital Management
New Jersey
– -$169K -11,612 Closed
WAM
38
Wolverine Asset Management
Illinois
– -$75K -5,162 Closed
AIG
39
American International Group
New York
– -$68K -4,692 Closed
MBT
40
Monroe Bank & Trust
Michigan
– -$60K -4,144 Closed
Citigroup
41
Citigroup
New York
– -$484 -32 -94%
1
2

MIY Hedge Fund Activity: Q2 2016 in Review

33 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in BlackRock MuniYield Michigan Quality Fund (MIY) for Q2 2016, worth a combined $37.2M — up 15% from $32.4M a quarter earlier.

Sellers outnumbered buyers: 7 funds closed out of MIY and 6 opened new positions — a net loss of 1 holder — while 15 trimmed existing stakes and 5 added.

The largest buyer was Mackay Shields LLC, opening a new position worth an estimated $4.69M. The largest seller was Karpus Investment Management, cutting an estimated $793K.

  • 33 institutional investors held BlackRock MuniYield Michigan Quality Fund (MIY) as of Q2 2016, down from 34 in Q1 2016.
  • Funds reported $37.2M of BlackRock MuniYield Michigan Quality Fund stock for Q2 2016, up 15% quarter-over-quarter.
  • 6 funds opened new BlackRock MuniYield Michigan Quality Fund positions in Q2 2016 and 7 closed out, a net change of -1 holder.
  • The largest BlackRock MuniYield Michigan Quality Fund buyer in Q2 2016 was Mackay Shields LLC, an estimated $4.69M added.
  • The largest BlackRock MuniYield Michigan Quality Fund seller in Q2 2016 was Karpus Investment Management, an estimated $793K sold.

Based on aggregated 13F filings for Q2 2016.