BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC) Sees Significant Drop in Short Interest

Key Points

• Short interest fell 81.1% to 31,487 shares as of July 31, representing virtually none of MUC’s outstanding shares and only 0.1 days of average trading volume.
• MUC opened at $10.79, near its 50-day and 200-day moving averages, with a 12-month trading range of $10.08 to $11.16.
• The fund declared a monthly dividend of $0.0535 per share, payable October 1 to shareholders of record September 15, equating to an approximately 6.0% annualized yield. Institutional investors own 30.99% of the fund.

BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC - Get Free Report) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 31,487 shares, a decrease of 81.1% from the July 15th total of 166,176 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 353,935 shares, the short-interest ratio is currently 0.1 days.

BlackRock MuniHoldings California Quality Fund Price Performance

MUC stock opened at $10.79 on Wednesday. The company's 50-day moving average price is $10.82 and its two-hundred day moving average price is $10.78. BlackRock MuniHoldings California Quality Fund has a 12 month low of $10.08 and a 12 month high of $11.16.

BlackRock MuniHoldings California Quality Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.0535 per share. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date is Tuesday, September 15th.

Institutional Investors Weigh In On BlackRock MuniHoldings California Quality Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Guggenheim Capital LLC raised its holdings in shares of BlackRock MuniHoldings California Quality Fund by 9.2% during the 4th quarter. Guggenheim Capital LLC now owns 2,479,122 shares of the company's stock worth $26,279,000 after buying an additional 208,561 shares in the last quarter. Rivernorth Capital Management LLC lifted its position in shares of BlackRock MuniHoldings California Quality Fund by 55.2% during the 4th quarter. Rivernorth Capital Management LLC now owns 2,308,887 shares of the company's stock worth $24,474,000 after buying an additional 821,347 shares during the last quarter. Bank of America Corp DE boosted its stake in BlackRock MuniHoldings California Quality Fund by 21.0% in the first quarter. Bank of America Corp DE now owns 2,268,949 shares of the company's stock valued at $23,597,000 after buying an additional 393,995 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in BlackRock MuniHoldings California Quality Fund by 51.8% in the fourth quarter. Advisors Asset Management Inc. now owns 1,351,242 shares of the company's stock valued at $14,323,000 after buying an additional 461,268 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in BlackRock MuniHoldings California Quality Fund by 85.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,100,165 shares of the company's stock valued at $11,442,000 after acquiring an additional 507,112 shares during the last quarter. 30.99% of the stock is currently owned by institutional investors.

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.

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