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BlackRock MuniYield Michigan Quality Fund
MIY

44 hedge funds and large institutions have $72M invested in BlackRock MuniYield Michigan Quality Fund in 2019 Q1 according to their latest regulatory filings, with 4 funds opening new positions, 16 increasing their positions, 14 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

14% more repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 14

2% more capital invested

Capital invested by funds: $70.9M → $72M (+$1.1M)

1.1% less ownership

Funds ownership: 19.33% → 18.23% (-1.1%)

10% less funds holding

Funds holding: 49 → 44 (-5)

50% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 8

Holders
44
Holders Change
-5
Holders Change %
-10.2%
% of All Funds
0.95%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.02%
New
4
Increased
16
Reduced
14
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$1.07M
2
Wells Fargo
Wells Fargo
California
+$758K
3
RCA
Reitz Capital Advisors
Michigan
+$490K
4
SPC
Sigma Planning Corp
Michigan
+$439K
5
WAM
Wolverine Asset Management
Illinois
+$214K

Top Sellers

Rank Fund Capital Flow
1
CC
Claybrook Capital
Massachusetts
-$2.59M
2
CRC
Curi RMB Capital
Illinois
-$1.39M
3
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
-$602K
4
SIA
Sit Investment Associates
Minnesota
-$573K
5
AA
AQR Arbitrage
Connecticut
-$429K
Name Holding Trade Value Shares
Change 		Change in
Stake
Royal Bank of Canada
26
Royal Bank of Canada
Ontario, Canada
$290K -$69.5K -5,339 -20%
Commonwealth Equity Services
27
Commonwealth Equity Services
Massachusetts
$227K -$151K -11,600 -41%
COLIM
28
City of London Investment Management
United Kingdom
$194K +$189K +14,483 New
RJFSA
29
Raymond James Financial Services Advisors
Florida
$189K – – –
AWA
30
Acorn Wealth Advisors
Michigan
$181K +$13.5K +1,040 +8%
AIM
31
Arcadia Investment Management
Michigan
$169K – – –
LPIC
32
LeJeune Puetz Investment Counsel
Michigan
$154K – – –
BAM
33
Barrett Asset Management
New York
$103K – – –
IA
34
IFP Advisors
Florida
$94K +$2.28K +175 +3%
RCAG
35
Rehmann Capital Advisory Group
Michigan
$88.2K +$23K +1,767 +37%
AG
36
Advisor Group
Arizona
$70K -$13K -1,000 -16%
Northwestern Mutual Wealth Management
37
Northwestern Mutual Wealth Management
Wisconsin
$33K +$32.5K +2,500 New
RFM
38
Royal Fund Management
Florida
$22K – – –
ASN
39
Advisory Services Network
Georgia
$21K +$169 +13 +0.8%
PMFA
40
Plante Moran Financial Advisors
Michigan
$20K +$10.1K +774 +107%
Fifth Third Bancorp
41
Fifth Third Bancorp
Ohio
$12K -$39K -3,000 -77%
TRCT
42
Tower Research Capital (TRC)
New York
$8K -$12.4K -950 -62%
Northern Trust
43
Northern Trust
Illinois
$2K -$19.6K -1,505 -6%
FIA
44
FNY Investment Advisers
New York
$1K +$1.85K +142 New
CC
45
Claybrook Capital
Massachusetts
– -$2.59M -208,563 Closed
CRC
46
Curi RMB Capital
Illinois
– -$1.39M -111,877 Closed
WAM
47
Weiss Asset Management
Massachusetts
– -$356K -28,629 Closed
AC
48
Almitas Capital
California
– -$255K -20,564 Closed
NFG
49
Next Financial Group
Texas
– -$120K -9,650 Closed
EWM
50
Executive Wealth Management
Michigan
– -$55K -3,872 Closed
1
2
3

MIY Hedge Fund Activity: Q1 2019 in Review

44 of the 4,620 institutional investors tracked by Wall St. Rank reported a position in BlackRock MuniYield Michigan Quality Fund (MIY) for Q1 2019, worth a combined $72M — up 1.5% from $70.9M a quarter earlier.

Sellers outnumbered buyers: 8 funds closed out of MIY and 4 opened new positions — a net loss of 4 holders — while 14 trimmed existing stakes and 16 added.

The largest buyer was Karpus Investment Management, adding an estimated $1.07M. The largest seller was Claybrook Capital, exiting entirely with an estimated $2.59M sold.

  • 44 institutional investors held BlackRock MuniYield Michigan Quality Fund (MIY) as of Q1 2019, down from 49 in Q4 2018.
  • Funds reported $72M of BlackRock MuniYield Michigan Quality Fund stock for Q1 2019, up 1.5% quarter-over-quarter.
  • 4 funds opened new BlackRock MuniYield Michigan Quality Fund positions in Q1 2019 and 8 closed out, a net change of -4 holders.
  • The largest BlackRock MuniYield Michigan Quality Fund buyer in Q1 2019 was Karpus Investment Management, an estimated $1.07M added.
  • The largest BlackRock MuniYield Michigan Quality Fund seller in Q1 2019 was Claybrook Capital, an estimated $2.59M sold.

Based on aggregated 13F filings for Q1 2019.