BlackRock MuniHoldings New Jersey Quality Fund (NYSE:MUJ) Share Price Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• NYSE:MUJ shares moved above their 200-day moving average of $12.01, trading up to $12.12 and last at $12.065 on a volume of about 79,974 shares.
• The fund declared a monthly dividend of $0.054 payable July 1 to holders of record on June 15, implying an annualized yield of roughly 5.4%.
• Several institutions have recently adjusted positions—including Bank of America, RBC, Peapack Gladstone, Osaic and Nomura—and about 15.13% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniHoldings New Jersey Quality Fund, Inc. (NYSE:MUJ - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.01 and traded as high as $12.12. BlackRock MuniHoldings New Jersey Quality Fund shares last traded at $12.0650, with a volume of 79,974 shares trading hands.

BlackRock MuniHoldings New Jersey Quality Fund Stock Down 0.0%

The business has a 50 day simple moving average of $12.11 and a 200 day simple moving average of $12.01.

BlackRock MuniHoldings New Jersey Quality Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a $0.054 dividend. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 5.4%.

Institutional Investors Weigh In On BlackRock MuniHoldings New Jersey Quality Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MUJ. Royal Bank of Canada raised its stake in BlackRock MuniHoldings New Jersey Quality Fund by 2.8% in the first quarter. Royal Bank of Canada now owns 51,595 shares of the financial services provider's stock valued at $580,000 after buying an additional 1,400 shares during the last quarter. Peapack Gladstone Financial Corp increased its holdings in shares of BlackRock MuniHoldings New Jersey Quality Fund by 8.3% in the second quarter. Peapack Gladstone Financial Corp now owns 32,859 shares of the financial services provider's stock valued at $360,000 after purchasing an additional 2,522 shares during the period. Bank of America Corp DE increased its holdings in shares of BlackRock MuniHoldings New Jersey Quality Fund by 7.6% in the second quarter. Bank of America Corp DE now owns 449,183 shares of the financial services provider's stock valued at $4,919,000 after purchasing an additional 31,816 shares during the period. Nomura Holdings Inc. acquired a new position in shares of BlackRock MuniHoldings New Jersey Quality Fund in the second quarter valued at about $110,000. Finally, Osaic Holdings Inc. increased its holdings in shares of BlackRock MuniHoldings New Jersey Quality Fund by 26.8% in the second quarter. Osaic Holdings Inc. now owns 54,095 shares of the financial services provider's stock valued at $593,000 after purchasing an additional 11,438 shares during the period. 15.13% of the stock is currently owned by hedge funds and other institutional investors.

About BlackRock MuniHoldings New Jersey Quality Fund

BlackRock MuniHoldings New Jersey Quality Fund NYSE: MUJ is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal and New Jersey state income taxes. The fund primarily invests in investment-grade municipal securities issued by or on behalf of the State of New Jersey and its municipalities, authorities, and instrumentalities. By concentrating on high-quality New Jersey public finance obligations, MUJ aims to offer tax-efficient income for investors with exposure to the state's credit profile.

The fund's portfolio is actively managed by BlackRock's municipal fixed income team, which conducts credit analysis and sector allocation to identify opportunities within New Jersey's diverse municipal marketplace.

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