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BlackRock MuniYield Michigan Quality Fund
MIY

49 hedge funds and large institutions have $70.9M invested in BlackRock MuniYield Michigan Quality Fund in 2018 Q4 according to their latest regulatory filings, with 11 funds opening new positions, 13 increasing their positions, 12 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

175% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 4

30% more capital invested

Capital invested by funds: $54.5M → $70.9M (+$16.4M)

17% more funds holding

Funds holding: 42 → 49 (+7)

4.33% more ownership

Funds ownership: 15% → 19.33% (+4.3%)

8% more repeat investments, than reductions

Existing positions increased: 13 | Existing positions reduced: 12

Holders
49
Holders Change
+7
Holders Change %
+16.67%
% of All Funds
1.09%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
11
Increased
13
Reduced
12
Closed
4
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
+$5.59M
2
SIA
Sit Investment Associates
Minnesota
+$3.92M
3
CC
Claybrook Capital
Massachusetts
+$2.59M
4
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
+$2.54M
5
FIMG
Financial & Investment Management Group
Michigan
+$690K

Top Sellers

Rank Fund Capital Flow
1
CRC
Curi RMB Capital
Illinois
-$1.03M
2
Morgan Stanley
Morgan Stanley
New York
-$1M
3
RCAG
Rehmann Capital Advisory Group
Michigan
-$741K
4
UBS Group
UBS Group
Switzerland
-$294K
5
LCM
Landscape Capital Management
New Jersey
-$263K
Name Holding Trade Value Shares
Change 		Change in
Stake
WAM
26
Weiss Asset Management
Massachusetts
$356K +$355K +28,629 New
Commonwealth Equity Services
27
Commonwealth Equity Services
Massachusetts
$355K +$355K +28,621 New
Cambridge Investment Research Advisors
28
Cambridge Investment Research Advisors
Iowa
$345K -$12K -967 -3%
Royal Bank of Canada
29
Royal Bank of Canada
Ontario, Canada
$336K – – –
AC
30
Almitas Capital
California
$255K +$255K +20,564 New
Stifel Financial
31
Stifel Financial
Missouri
$218K -$15.8K -1,275 -7%
RJFSA
32
Raymond James Financial Services Advisors
Florida
$176K – – –
AWA
33
Acorn Wealth Advisors
Michigan
$158K +$149 +12 +0.1%
AIM
34
Arcadia Investment Management
Michigan
$157K – – –
LPIC
35
LeJeune Puetz Investment Counsel
Michigan
$143K – – –
NFG
36
Next Financial Group
Texas
$120K +$120K +9,650 New
BAM
37
Barrett Asset Management
New York
$96K – – –
IA
38
IFP Advisors
Florida
$84K -$81.5K -6,572 -49%
AG
39
Advisor Group
Arizona
$77K +$41.3K +3,333 +115%
RCAG
40
Rehmann Capital Advisory Group
Michigan
$60K -$741K -59,753 -93%
EWM
41
Executive Wealth Management
Michigan
$55K +$48K +3,872 New
Fifth Third Bancorp
42
Fifth Third Bancorp
Ohio
$49K -$3.57K -288 -7%
RFM
43
Royal Fund Management
Florida
$21K – – –
ASN
44
Advisory Services Network
Georgia
$19K +$322 +26 +2%
TRCT
45
Tower Research Capital (TRC)
New York
$19K +$19.1K +1,540 New
Carson Wealth (CWM LLC)
46
Carson Wealth (CWM LLC)
Nebraska
$12K – – –
Fidelity Investments
47
Fidelity Investments
Massachusetts
$11K +$11.3K +911 New
PMFA
48
Plante Moran Financial Advisors
Michigan
$9K – – –
Northern Trust
49
Northern Trust
Illinois
$3K – – –
TSS
50
Two Sigma Securities
New York
– -$174K -14,054 Closed
1
2
3

MIY Hedge Fund Activity: Q4 2018 in Review

49 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in BlackRock MuniYield Michigan Quality Fund (MIY) for Q4 2018, worth a combined $70.9M — up 30% from $54.5M a quarter earlier.

Buyers outnumbered sellers: 11 funds opened new MIY positions and 4 closed out — a net gain of 7 holders — while 13 added to existing stakes and 12 trimmed.

The largest buyer was Saba Capital Management, opening a new position worth an estimated $5.59M. The largest seller was Curi RMB Capital, cutting an estimated $1.03M.

  • 49 institutional investors held BlackRock MuniYield Michigan Quality Fund (MIY) as of Q4 2018, up from 42 in Q3 2018.
  • Funds reported $70.9M of BlackRock MuniYield Michigan Quality Fund stock for Q4 2018, up 30% quarter-over-quarter.
  • 11 funds opened new BlackRock MuniYield Michigan Quality Fund positions in Q4 2018 and 4 closed out, a net change of +7 holders.
  • The largest BlackRock MuniYield Michigan Quality Fund buyer in Q4 2018 was Saba Capital Management, an estimated $5.59M added.
  • The largest BlackRock MuniYield Michigan Quality Fund seller in Q4 2018 was Curi RMB Capital, an estimated $1.03M sold.

Based on aggregated 13F filings for Q4 2018.