BlackRock MuniHoldings California Quality Fund (NYSE:MUC) Hits New 1-Year High – Here’s Why

BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $11.05 and last traded at $11.0750, with a volume of 32017 shares changing hands. The stock had previously closed at $11.01.

BlackRock MuniHoldings California Quality Fund Stock Down 0.1%

The stock has a 50 day moving average price of $10.79 and a 200 day moving average price of $10.77.

BlackRock MuniHoldings California Quality Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a $0.0535 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 5.8%.

Hedge Funds Weigh In On BlackRock MuniHoldings California Quality Fund

Several hedge funds have recently made changes to their positions in MUC. PNC Financial Services Group Inc. lifted its stake in BlackRock MuniHoldings California Quality Fund by 1.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 68,791 shares of the company’s stock valued at $729,000 after purchasing an additional 997 shares during the last quarter. Equitable Holdings Inc. increased its holdings in shares of BlackRock MuniHoldings California Quality Fund by 6.6% in the third quarter. Equitable Holdings Inc. now owns 24,862 shares of the company’s stock valued at $270,000 after buying an additional 1,544 shares in the last quarter. Atala Financial Inc lifted its position in shares of BlackRock MuniHoldings California Quality Fund by 0.6% during the 4th quarter. Atala Financial Inc now owns 272,736 shares of the company’s stock valued at $2,891,000 after acquiring an additional 1,617 shares during the last quarter. Van Hulzen Asset Management LLC boosted its stake in shares of BlackRock MuniHoldings California Quality Fund by 14.0% during the 4th quarter. Van Hulzen Asset Management LLC now owns 17,382 shares of the company’s stock worth $184,000 after acquiring an additional 2,130 shares in the last quarter. Finally, Hollencrest Capital Management grew its holdings in shares of BlackRock MuniHoldings California Quality Fund by 1.0% in the 4th quarter. Hollencrest Capital Management now owns 226,520 shares of the company’s stock worth $2,401,000 after acquiring an additional 2,302 shares during the last quarter. Institutional investors and hedge funds own 30.99% of the company’s stock.

BlackRock MuniHoldings California Quality Fund Company Profile

BlackRock MuniHoldings California Quality Fund (NYSE: MUC) is a closed-end management investment company that seeks to provide high-quality, federally and California tax-exempt income. The fund primarily invests in investment-grade municipal obligations issued by or on behalf of entities located in California, including general obligation bonds and revenue bonds that finance public projects such as schools, transportation infrastructure and utilities.

The fund’s portfolio construction emphasizes credit quality and geographic concentration, targeting bonds rated at or above investment grade by nationally recognized statistical rating organizations.