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BlackRock MuniYield Michigan Quality Fund
MIY

29 hedge funds and large institutions have $9.8M invested in BlackRock MuniYield Michigan Quality Fund in 2013 Q4 according to their latest regulatory filings, with 8 funds opening new positions, 11 increasing their positions, 6 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

83% more repeat investments, than reductions

Existing positions increased: 11 | Existing positions reduced: 6

33% more first-time investments, than exits

New positions opened: 8 | Existing positions closed: 6

21% more capital invested

Capital invested by funds: $8.06M → $9.8M (+$1.73M)

7% more funds holding

Funds holding: 27 → 29 (+2)

0.89% more ownership

Funds ownership: 3.6% → 4.49% (+0.89%)

Holders
29
Holders Change
+2
Holders Change %
+7.41%
% of All Funds
0.84%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
8
Increased
11
Reduced
6
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
DA
Doliver Advisors
Texas
+$518K
2
MIG
Mariner Investment Group
New York
+$356K
3
WAM
Wolverine Asset Management
Illinois
+$310K
4
B
Baird
Wisconsin
+$215K
5
Morgan Stanley
Morgan Stanley
New York
+$209K

Top Sellers

Rank Fund Capital Flow
1
TC
TFS Capital
Pennsylvania
-$466K
2
Northern Trust
Northern Trust
Illinois
-$90.8K
3
UCFA
United Capital Financial Advisors
Texas
-$82.9K
4
US Bancorp
US Bancorp
Minnesota
-$78K
5
RIA
Regal Investment Advisors
Michigan
-$70K
Name Holding Trade Value Shares
Change 		Change in
Stake
Morgan Stanley
1
Morgan Stanley
New York
$1.38M +$209K +16,796 +18%
SIA
2
Sit Investment Associates
Minnesota
$1.12M – – –
KeyBank National Association
3
KeyBank National Association
Ohio
$1.03M -$22.4K -1,800 -2%
Goldman Sachs
4
Goldman Sachs
New York
$827K +$3.05K +245 +0.4%
AQR Capital Management
5
AQR Capital Management
Connecticut
$617K +$200K +16,096 +48%
DA
6
Doliver Advisors
Texas
$519K +$518K +41,684 New
Bank of America
7
Bank of America
North Carolina
$499K +$53.2K +4,276 +12%
B
8
Baird
Wisconsin
$492K +$215K +17,317 +78%
LPL Financial
9
LPL Financial
California
$367K +$7.46K +600 +2%
UCFA
10
United Capital Financial Advisors
Texas
$361K -$82.9K -6,668 -19%
MIG
11
Mariner Investment Group
New York
$357K +$356K +28,656 New
WAM
12
Wolverine Asset Management
Illinois
$322K +$310K +24,925 +2,505%
Barclays
13
Barclays
United Kingdom
$230K +$75.8K +6,100 +47%
U
14
UBS
Switzerland
$219K +$19.3K +1,550 +10%
RCAG
15
Rehmann Capital Advisory Group
Michigan
$205K +$205K +16,471 New
PNC Financial Services Group
16
PNC Financial Services Group
Pennsylvania
$203K +$204K +16,380 New
WAM
17
Weiss Asset Management
Massachusetts
$187K +$186K +14,988 New
KIM
18
Karpus Investment Management
New York
$169K -$21.1K -1,700 -11%
Wells Fargo
19
Wells Fargo
California
$158K -$56.9K -4,574 -27%
SG Americas Securities
20
SG Americas Securities
New York
$158K +$157K +12,661 New
AIG
21
American International Group
New York
$146K – – –
TJHA
22
Thomas J. Herzfeld Advisors
Florida
$93K -$46.6K -3,750 -33%
Fifth Third Bancorp
23
Fifth Third Bancorp
Ohio
$78K – – –
BIM
24
BlackRock Investment Management
Delaware
$31K +$31.1K +2,500 New
Royal Bank of Canada
25
Royal Bank of Canada
Ontario, Canada
$19K +$6.22K +500 +50%
1
2

MIY Hedge Fund Activity: Q4 2013 in Review

29 of the 3,446 institutional investors tracked by Wall St. Rank reported a position in BlackRock MuniYield Michigan Quality Fund (MIY) for Q4 2013, worth a combined $9.8M — up 21% from $8.06M a quarter earlier.

Buyers outnumbered sellers: 8 funds opened new MIY positions and 6 closed out — a net gain of 2 holders — while 11 added to existing stakes and 6 trimmed.

The largest buyer was Doliver Advisors, opening a new position worth an estimated $518K. The largest seller was TFS Capital, exiting entirely with an estimated $466K sold.

  • 29 institutional investors held BlackRock MuniYield Michigan Quality Fund (MIY) as of Q4 2013, up from 27 in Q3 2013.
  • Funds reported $9.8M of BlackRock MuniYield Michigan Quality Fund stock for Q4 2013, up 21% quarter-over-quarter.
  • 8 funds opened new BlackRock MuniYield Michigan Quality Fund positions in Q4 2013 and 6 closed out, a net change of +2 holders.
  • The largest BlackRock MuniYield Michigan Quality Fund buyer in Q4 2013 was Doliver Advisors, an estimated $518K added.
  • The largest BlackRock MuniYield Michigan Quality Fund seller in Q4 2013 was TFS Capital, an estimated $466K sold.

Based on aggregated 13F filings for Q4 2013.