Rivernorth Capital Management LLC Lowers Holdings in BlackRock MuniHoldings California Quality Fund, Inc. $MUC

Key Points

• Rivernorth Capital Management cut its BlackRock MuniHoldings California Quality Fund (MUC) position by 52.8% in the second quarter, selling 1,192,308 shares and retaining 1,066,052 shares valued at approximately $11.7 million.
• Other institutional investors increased their holdings, including Allspring Global Investments, Advisors Asset Management, Bank of America and Northwestern Mutual. Hedge funds and other institutions collectively own 30.99% of MUC.
• MUC shares opened at $10.60, below their 50-day and 200-day moving averages, while the fund announced a monthly dividend of $0.0535 per share, implying an annualized yield of about 6.1%.

Rivernorth Capital Management LLC trimmed its position in BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC - Free Report) by 52.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,066,052 shares of the company's stock after selling 1,192,308 shares during the period. Rivernorth Capital Management LLC owned 0.85% of BlackRock MuniHoldings California Quality Fund worth $11,716,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of BlackRock MuniHoldings California Quality Fund by 85.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,100,165 shares of the company's stock worth $11,442,000 after purchasing an additional 507,112 shares in the last quarter. Advisors Asset Management Inc. lifted its position in BlackRock MuniHoldings California Quality Fund by 51.8% during the fourth quarter. Advisors Asset Management Inc. now owns 1,351,242 shares of the company's stock valued at $14,323,000 after purchasing an additional 461,268 shares during the last quarter. Fiera Capital Corp bought a new stake in BlackRock MuniHoldings California Quality Fund during the fourth quarter valued at approximately $4,665,000. Bank of America Corp DE grew its stake in BlackRock MuniHoldings California Quality Fund by 21.0% in the 1st quarter. Bank of America Corp DE now owns 2,268,949 shares of the company's stock worth $23,597,000 after buying an additional 393,995 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in BlackRock MuniHoldings California Quality Fund by 1,431.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 342,357 shares of the company's stock worth $3,715,000 after buying an additional 320,000 shares in the last quarter. 30.99% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock MuniHoldings California Quality Fund Price Performance

Shares of NYSE:MUC opened at $10.60 on Monday. The company's fifty day moving average price is $10.80 and its 200-day moving average price is $10.76. BlackRock MuniHoldings California Quality Fund, Inc. has a one year low of $10.20 and a one year high of $11.16.

BlackRock MuniHoldings California Quality Fund Dividend Announcement

The company 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. This represents a c) dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 15th.

About BlackRock MuniHoldings California Quality Fund

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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