HAWAIIAN ELEC INDUSTRIES

Ticker: HE CUSIP: 419870100 Class: COM

Municipal Employees' Retirement System of Michigan's Holding History (CIK: 0001588873)

Note: Option positions (PUT/CALL) are excluded.

Q1 2020

Shares 20,450 Value ($000) $880 Avg Close $46.24 Range $33.51 - $55.15

Q4 2019

Shares 20,210 Value ($000) $947 Avg Close $44.81 Range $42.95 - $47.64

Q3 2019

Shares 19,990 Value ($000) $912 Avg Close $44.47 Range $42.72 - $45.96

Q2 2019

Shares 20,140 Value ($000) $877 Avg Close $41.91 Range $40.22 - $44.08

Q1 2019

Shares 19,850 Value ($000) $809 Avg Close $38.00 Range $35.06 - $41.10

Q4 2018

Shares 26,170 Value ($000) $958 Avg Close $37.09 Range $34.88 - $39.35

Q2 2018

Shares 25,510 Value ($000) $875 Avg Close $33.98 Range $32.59 - $35.20

Q1 2018

Shares 33,820 Value ($000) $1,163 Avg Close $33.79 Range $31.72 - $36.22

Q4 2017

Shares 32,900 Value ($000) $1,189 Avg Close $36.20 Range $33.30 - $38.72

Q3 2017

Shares 32,900 Value ($000) $1,098 Avg Close $33.08 Range $31.71 - $34.64

Q2 2017

Shares 41,980 Value ($000) $1,359 Avg Close $33.26 Range $32.01 - $34.08

Q1 2017

Shares 50,290 Value ($000) $1,675 Avg Close $33.18 Range $32.32 - $33.94

Q4 2016

Shares 49,380 Value ($000) $1,633 Avg Close $30.49 Range $28.31 - $34.08

Q3 2016

Shares 48,430 Value ($000) $1,446 Avg Close $30.73 Range $29.14 - $33.57

Q2 2016

Shares 47,740 Value ($000) $1,565 Avg Close $32.95 Range $31.35 - $34.98

Q1 2016

Shares 35,870 Value ($000) $1,162 Avg Close $29.95 Range $27.30 - $32.69

Q4 2015

Shares 34,380 Value ($000) $995 Avg Close $28.83 Range $27.45 - $30.29

Q3 2015

Shares 34,340 Value ($000) $985 Avg Close $29.33 Range $27.02 - $31.28

Q2 2015

Shares 32,260 Value ($000) $959 Avg Close $31.09 Range $29.62 - $32.58

Q1 2015

Shares 31,100 Value ($000) $999 Avg Close $33.33 Range $31.75 - $34.86

Q4 2014

Shares 33,290 Value ($000) $1,115 Avg Close $29.12 Range $26.04 - $35.00

Q3 2014

Shares 28,700 Value ($000) $762 Avg Close $24.82 Range $22.71 - $26.89

Q2 2014

Shares 27,500 Value ($000) $696 Avg Close $24.35 Range $23.04 - $25.65

Q1 2014

Shares 27,500 Value ($000) $699 Avg Close $25.56 Range $24.39 - $26.80

Q4 2013

Shares 27,100 Value ($000) $706 Avg Close $25.86 Range $24.51 - $27.15

Q3 2013

Shares 16,200 Value ($000) $407 Avg Close $25.72 Range $24.12 - $27.24

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2020	20,450	$880	$46.24	$33.51 - $55.15
Q4 2019	20,210	$947	$44.81	$42.95 - $47.64
Q3 2019	19,990	$912	$44.47	$42.72 - $45.96
Q2 2019	20,140	$877	$41.91	$40.22 - $44.08
Q1 2019	19,850	$809	$38.00	$35.06 - $41.10
Q4 2018	26,170	$958	$37.09	$34.88 - $39.35
Q2 2018	25,510	$875	$33.98	$32.59 - $35.20
Q1 2018	33,820	$1,163	$33.79	$31.72 - $36.22
Q4 2017	32,900	$1,189	$36.20	$33.30 - $38.72
Q3 2017	32,900	$1,098	$33.08	$31.71 - $34.64
Q2 2017	41,980	$1,359	$33.26	$32.01 - $34.08
Q1 2017	50,290	$1,675	$33.18	$32.32 - $33.94
Q4 2016	49,380	$1,633	$30.49	$28.31 - $34.08
Q3 2016	48,430	$1,446	$30.73	$29.14 - $33.57
Q2 2016	47,740	$1,565	$32.95	$31.35 - $34.98
Q1 2016	35,870	$1,162	$29.95	$27.30 - $32.69
Q4 2015	34,380	$995	$28.83	$27.45 - $30.29
Q3 2015	34,340	$985	$29.33	$27.02 - $31.28
Q2 2015	32,260	$959	$31.09	$29.62 - $32.58
Q1 2015	31,100	$999	$33.33	$31.75 - $34.86
Q4 2014	33,290	$1,115	$29.12	$26.04 - $35.00
Q3 2014	28,700	$762	$24.82	$22.71 - $26.89
Q2 2014	27,500	$696	$24.35	$23.04 - $25.65
Q1 2014	27,500	$699	$25.56	$24.39 - $26.80
Q4 2013	27,100	$706	$25.86	$24.51 - $27.15
Q3 2013	16,200	$407	$25.72	$24.12 - $27.24