BlackRock MuniHoldings New Jersey Quality Fund (NYSE:MUJ) Shares Pass Above 200 Day Moving Average - Here's Why

Key Points

• MUJ shares moved above their 200-day moving average on Thursday, trading as high as $12.40 and last changing hands at $12.3850. The fund’s 200-day moving average was $12.17.
• The fund announced a monthly dividend of $0.054 per share, payable on October 1 to shareholders of record on September 15. That works out to an annualized dividend yield of 5.2%.
• Institutional investors hold a notable stake in the closed-end fund, with several firms recently adding to their positions. Overall, institutional ownership stands at 15.13%.

BlackRock MuniHoldings New Jersey Quality Fund, Inc. (NYSE:MUJ - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.17 and traded as high as $12.40. BlackRock MuniHoldings New Jersey Quality Fund shares last traded at $12.3850, with a volume of 57,670 shares changing hands.

BlackRock MuniHoldings New Jersey Quality Fund Price Performance

The company has a 50-day moving average price of $12.26 and a 200 day moving average price of $12.17.

BlackRock MuniHoldings New Jersey Quality Fund Announces Dividend

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 given a dividend of $0.054 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%.

Hedge Funds Weigh In On BlackRock MuniHoldings New Jersey Quality Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS Group AG grew its stake in shares of BlackRock MuniHoldings New Jersey Quality Fund by 0.4% in the 4th quarter. UBS Group AG now owns 259,311 shares of the financial services provider's stock worth $3,086,000 after buying an additional 1,036 shares in the last quarter. Royal Bank of Canada raised its stake in shares of 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 acquiring an additional 1,400 shares during the period. Peapack Gladstone Financial Corp lifted its holdings in shares of BlackRock MuniHoldings New Jersey Quality Fund by 8.3% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 32,859 shares of the financial services provider's stock worth $360,000 after acquiring an additional 2,522 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of BlackRock MuniHoldings New Jersey Quality Fund by 6.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 53,272 shares of the financial services provider's stock worth $634,000 after purchasing an additional 3,267 shares during the period. Finally, Cary Street Partners Investment Advisory LLC bought a new position in BlackRock MuniHoldings New Jersey Quality Fund during the 4th quarter valued at about $60,000. 15.13% of the stock is owned by 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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