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BlackRock MuniYield Michigan Quality Fund
MIY

53 hedge funds and large institutions have $75.5M invested in BlackRock MuniYield Michigan Quality Fund in 2019 Q3 according to their latest regulatory filings, with 4 funds opening new positions, 14 increasing their positions, 15 reducing their positions, and 1 closing their positions.

New
Increased
Maintained
Reduced
Closed

300% more first-time investments, than exits

New positions opened: 4 | Existing positions closed: 1

6% more funds holding

Funds holding: 50 → 53 (+3)

1% more capital invested

Capital invested by funds: $74.8M → $75.5M (+$707K)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

0.18% less ownership

Funds ownership: 18.41% → 18.24% (-0.18%)

7% less repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 15

Holders
53
Holders Change
+3
Holders Change %
+6%
% of All Funds
1.16%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.04%
New
4
Increased
14
Reduced
15
Closed
1
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
+$2.67M
2
RJFSA
Raymond James Financial Services Advisors
Florida
+$438K
3
RCM
Robinson Capital Management
Michigan
+$423K
4
TC
Telemus Capital
Michigan
+$181K
5
AIM
Arcadia Investment Management
Michigan
+$179K

Top Sellers

Rank Fund Capital Flow
1
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
-$2.45M
2
Wells Fargo
Wells Fargo
California
-$993K
3
LCM
Landscape Capital Management
New Jersey
-$643K
4
WAM
Wolverine Asset Management
Illinois
-$424K
5
AA
AQR Arbitrage
Connecticut
-$166K
Name Holding Trade Value Shares
Change 		Change in
Stake
Royal Bank of Canada
26
Royal Bank of Canada
Ontario, Canada
$316K – – –
Stifel Financial
27
Stifel Financial
Missouri
$305K – – –
TFCP
28
Twin Focus Capital Partners
Massachusetts
$273K – – –
G
29
Gainplan
Michigan
$240K +$71.1K +5,038 +42%
WAM
30
Wolverine Asset Management
Illinois
$239K -$424K -30,059 -64%
Commonwealth Equity Services
31
Commonwealth Equity Services
Massachusetts
$239K – – –
AWA
32
Acorn Wealth Advisors
Michigan
$185K -$41K -2,902 -18%
TC
33
Telemus Capital
Michigan
$179K +$181K +12,795 New
AIM
34
Arcadia Investment Management
Michigan
$178K +$179K +12,651 New
Susquehanna International Group
35
Susquehanna International Group
Pennsylvania
$172K +$24.9K +1,763 +17%
Cetera Investment Advisers
36
Cetera Investment Advisers
Illinois
$171K +$172K +12,179 New
LPIC
37
LeJeune Puetz Investment Counsel
Michigan
$162K – – –
BAM
38
Barrett Asset Management
New York
$152K – – –
AA
39
AQR Arbitrage
Connecticut
$148K -$166K -11,747 -53%
NFG
40
Next Financial Group
Texas
$136K – – –
AG
41
Advisor Group
Arizona
$109K -$16.9K -1,200 -13%
RCAG
42
Rehmann Capital Advisory Group
Michigan
$67.3K – – –
Northwestern Mutual Wealth Management
43
Northwestern Mutual Wealth Management
Wisconsin
$47K +$12.4K +875 +35%
ASN
44
Advisory Services Network
Georgia
$26K – – –
LTFS
45
Ladenburg Thalmann Financial Services
Florida
$26K +$7.24K +513 +39%
RFM
46
Royal Fund Management
Florida
$24K – – –
PMFA
47
Plante Moran Financial Advisors
Michigan
$21K -$18K -1,273 -46%
BFEC
48
Benjamin F. Edwards & Company
Missouri
$13K – – –
Northern Trust
49
Northern Trust
Illinois
$4K – – –
FIA
50
FNY Investment Advisers
New York
$2K +$141 +10 +6%
1
2
3

MIY Hedge Fund Activity: Q3 2019 in Review

53 of the 4,560 institutional investors tracked by Wall St. Rank reported a position in BlackRock MuniYield Michigan Quality Fund (MIY) for Q3 2019, worth a combined $75.5M — up 0.94% from $74.8M a quarter earlier.

Buyers outnumbered sellers: 4 funds opened new MIY positions and 1 closed out — a net gain of 3 holders — while 14 added to existing stakes and 15 trimmed.

The largest buyer was Saba Capital Management, adding an estimated $2.67M. The largest seller was Fiera Capital (Canada), cutting an estimated $2.45M.

  • 53 institutional investors held BlackRock MuniYield Michigan Quality Fund (MIY) as of Q3 2019, up from 50 in Q2 2019.
  • Funds reported $75.5M of BlackRock MuniYield Michigan Quality Fund stock for Q3 2019, up 0.94% quarter-over-quarter.
  • 4 funds opened new BlackRock MuniYield Michigan Quality Fund positions in Q3 2019 and 1 closed out, a net change of +3 holders.
  • The largest BlackRock MuniYield Michigan Quality Fund buyer in Q3 2019 was Saba Capital Management, an estimated $2.67M added.
  • The largest BlackRock MuniYield Michigan Quality Fund seller in Q3 2019 was Fiera Capital (Canada), an estimated $2.45M sold.

Based on aggregated 13F filings for Q3 2019.