BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC) Stock Short Interest Jumps 110.3%

Key Points

• Short interest more than doubled: Shares sold short rose 110.3% to 262,097 as of September 15, representing about 0.2% of outstanding shares and 0.4 days of average trading volume.
• Institutional ownership increased: Bank of America and Allspring Global Investments expanded their positions, while several other firms initiated or significantly raised stakes. Institutions and hedge funds own approximately 30.99% of MUC.
• MUC offers a high monthly yield: The fund recently declared a monthly dividend of $0.0535 per share, equal to about $0.64 annually and a 6.5% yield. Shares opened at $9.82, near the 12-month low of $9.77.

BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC - Get Free Report) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 262,097 shares, a growth of 110.3% from the August 31st total of 124,646 shares. Based on an average daily volume of 583,788 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.2% of the company's shares are short sold.

Hedge Funds Weigh In On BlackRock MuniHoldings California Quality Fund

Institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in shares of 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 valued at $23,597,000 after acquiring an additional 393,995 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of 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 worth $11,442,000 after purchasing an additional 507,112 shares in the last quarter. Western Wealth Management LLC bought a new position in BlackRock MuniHoldings California Quality Fund during the 1st quarter valued at $633,000. Rareview Capital LLC raised its position in BlackRock MuniHoldings California Quality Fund by 628.0% in the first quarter. Rareview Capital LLC now owns 183,505 shares of the company's stock worth $1,899,000 after acquiring an additional 158,298 shares in the last quarter. Finally, Trilogy Capital Inc. bought a new stake in BlackRock MuniHoldings California Quality Fund during the first quarter worth approximately $1,743,000. 30.99% of the stock is owned by institutional investors and hedge funds.

BlackRock MuniHoldings California Quality Fund Stock Performance

MUC opened at $9.82 on Monday. BlackRock MuniHoldings California Quality Fund has a 12 month low of $9.77 and a 12 month high of $11.16. The business has a 50-day moving average of $10.51 and a two-hundred day moving average of $10.67.

BlackRock MuniHoldings California Quality Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be issued a $0.0535 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Friday, December 11th.

About BlackRock MuniHoldings California Quality Fund

BlackRock MuniHoldings California Quality Fund, Inc is a closed-end management investment company listed on the New York Stock Exchange under the symbol MUC. The fund seeks to provide current income that is exempt from regular federal income tax and California state income tax by investing primarily in a portfolio of municipal obligations issued by or on behalf of California municipalities and other qualifying public entities.

The fund's investments may include bonds and other fixed-income securities that finance public infrastructure and services, such as schools, transportation systems, utilities, hospitals and other governmental or community projects.

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