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

Key Points

• Short interest surged 202.5% to 166,176 shares as of July 15, up from 54,940 shares on June 30. Despite the increase, only about 0.1% of MUC’s shares are sold short, representing 0.5 days of average trading volume.
• MUC shares declined 0.4% to $10.62, below both their 50-day and 200-day moving averages. The fund’s 12-month trading range is $10.00 to $11.16.
• The fund announced a monthly dividend of $0.0535 per share, payable October 1 to shareholders of record September 15, implying an annualized yield of approximately 6.0%. Institutional investors own about 31% of the fund.

BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC - Get Free Report) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 166,176 shares, a growth of 202.5% from the June 30th total of 54,940 shares. Based on an average daily volume of 339,612 shares, the short-interest ratio is presently 0.5 days. Approximately 0.1% of the shares of the stock are sold short.

BlackRock MuniHoldings California Quality Fund Stock Down 0.4%

Shares of MUC stock traded down $0.05 during trading hours on Monday, hitting $10.62. The company's stock had a trading volume of 198,886 shares, compared to its average volume of 284,871. The business has a fifty day moving average of $10.82 and a 200-day moving average of $10.79. BlackRock MuniHoldings California Quality Fund has a twelve month low of $10.00 and a twelve month high of $11.16.

BlackRock MuniHoldings California Quality Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a $0.0535 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 6.0%.

Hedge Funds Weigh In On BlackRock MuniHoldings California Quality Fund

Hedge funds have recently bought and sold shares of the stock. Rivernorth Capital Management LLC boosted its position in BlackRock MuniHoldings California Quality Fund by 55.2% during the fourth quarter. Rivernorth Capital Management LLC now owns 2,308,887 shares of the company's stock worth $24,474,000 after acquiring an additional 821,347 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in BlackRock MuniHoldings California Quality Fund by 85.5% in the 1st 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. Advisors Asset Management Inc. lifted its stake in shares of BlackRock MuniHoldings California Quality Fund by 51.8% during the 4th quarter. Advisors Asset Management Inc. now owns 1,351,242 shares of the company's stock worth $14,323,000 after purchasing an additional 461,268 shares during the period. Fiera Capital Corp purchased a new position in shares of BlackRock MuniHoldings California Quality Fund during the 4th quarter worth $4,665,000. Finally, Bank of America Corp DE boosted its holdings in shares of BlackRock MuniHoldings California Quality Fund by 21.0% during the first quarter. Bank of America Corp DE now owns 2,268,949 shares of the company's stock worth $23,597,000 after purchasing an additional 393,995 shares during the last quarter. Hedge funds and other institutional investors 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.

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