BlackRock MuniYield Michigan Quality Fund
MIY
49 hedge funds and large institutions have $72.4M invested in BlackRock MuniYield Michigan Quality Fund in 2020 Q3 according to their latest regulatory filings, with 6 funds opening new positions, 14 increasing their positions, 11 reducing their positions, and 8 closing their positions.
27% more repeat investments, than reductions
Existing positions increased: 14 | Existing positions reduced: 11
2% more capital invested
Capital invested by funds: $71.3M → $72.4M (+$1.18M)
0.3% less ownership
Funds ownership: 17.9% → 17.61% (-0.3%)
4% less funds holding
Funds holding: 51 → 49 (-2)
25% less first-time investments, than exits
New positions opened: 6 | Existing positions closed: 8
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MSL
Mackay Shields LLC
New York
|
+$10.2M |
| 2 |
RCA
Reitz Capital Advisors
Freeland,
Michigan
|
+$451K |
| 3 |
RJFSA
Raymond James Financial Services Advisors
St. Petersburg,
Florida
|
+$422K |
| 4 |
Cambridge Investment Research Advisors
Fairfield,
Iowa
|
+$362K |
| 5 |
OAM
Occidental Asset Management
Burlingame,
California
|
+$141K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
-$5.98M |
| 2 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
-$3.48M |
| 3 |
Wells Fargo
San Francisco,
California
|
-$882K |
| 4 |
CRC
Curi RMB Capital
Chicago,
Illinois
|
-$738K |
| 5 |
ACA
Ackerman Capital Advisors
Dallas,
Texas
|
-$535K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
ACA
51
Ackerman Capital Advisors
Dallas,
Texas
| – | -$535K | -39,430 | Closed |
|
52
Goldman Sachs
New York
| – | -$336K | -24,811 | Closed |
|
53
HighTower Advisors
Chicago,
Illinois
| – | -$250K | -18,500 | Closed |
|
54
BlackRock
New York
| – | -$225K | -16,615 | Closed |
|
|
AA
55
AQR Arbitrage
Greenwich,
Connecticut
| – | -$163K | -12,053 | Closed |
|
|
SC
56
Steph & Co
Marinette,
Wisconsin
| – | -$68K | -5,000 | Closed |
|
MIY Hedge Fund Activity: Q3 2020 in Review
49 of the 4,956 institutional investors tracked by Wall St. Rank reported a position in BlackRock MuniYield Michigan Quality Fund (MIY) for Q3 2020, worth a combined $72.4M — up 1.6% from $71.3M a quarter earlier.
Sellers outnumbered buyers: 8 funds closed out of MIY and 6 opened new positions — a net loss of 2 holders — while 11 trimmed existing stakes and 14 added.
The largest buyer was Mackay Shields LLC, adding an estimated $10.2M. The largest seller was Saba Capital Management, exiting entirely with an estimated $5.98M sold.
- 49 institutional investors held BlackRock MuniYield Michigan Quality Fund (MIY) as of Q3 2020, down from 51 in Q2 2020.
- Funds reported $72.4M of BlackRock MuniYield Michigan Quality Fund stock for Q3 2020, up 1.6% quarter-over-quarter.
- 6 funds opened new BlackRock MuniYield Michigan Quality Fund positions in Q3 2020 and 8 closed out, a net change of -2 holders.
- The largest BlackRock MuniYield Michigan Quality Fund buyer in Q3 2020 was Mackay Shields LLC, an estimated $10.2M added.
- The largest BlackRock MuniYield Michigan Quality Fund seller in Q3 2020 was Saba Capital Management, an estimated $5.98M sold.
Based on aggregated 13F filings for Q3 2020.