BlackRock MuniHoldings New Jersey Quality Fund, Inc. (NYSE:MUJ) Sees Large Increase in Short Interest

Key Points

• Short interest more than doubled to 304,120 shares as of September 15, up 116.4% from August 31. Short interest represents 0.6% of outstanding shares, with a 2.3-day days-to-cover ratio.
• MUJ shares opened at $11.30, below their 50-day and 200-day moving averages of $12.02 and $12.10, respectively, and within a 12-month range of $11.17 to $12.68.
• The fund announced a monthly dividend of $0.054 per share, equivalent to $0.65 annually and a 5.7% yield. Institutional investors own 15.13% of the fund, with several firms recently initiating positions.

BlackRock MuniHoldings New Jersey Quality Fund, Inc. (NYSE:MUJ - Get Free Report) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 304,120 shares, a growth of 116.4% from the August 31st total of 140,551 shares. Based on an average daily volume of 133,190 shares, the days-to-cover ratio is presently 2.3 days. Currently, 0.6% of the shares of the company are short sold.

BlackRock MuniHoldings New Jersey Quality Fund Trading Up 0.1%

Shares of NYSE:MUJ opened at $11.30 on Monday. The firm's 50 day moving average price is $12.02 and its 200-day moving average price is $12.10. BlackRock MuniHoldings New Jersey Quality Fund has a twelve month low of $11.17 and a twelve month high of $12.68.

BlackRock MuniHoldings New Jersey Quality Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be issued a dividend of $0.0540 per share. This represents a $0.65 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Friday, December 11th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MUJ. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of BlackRock MuniHoldings New Jersey Quality Fund in the 2nd quarter worth $62,000. Readystate Asset Management LP purchased a new position in BlackRock MuniHoldings New Jersey Quality Fund during the second quarter valued at $131,000. Sanctuary Advisors LLC purchased a new position in BlackRock MuniHoldings New Jersey Quality Fund during the first quarter valued at $124,000. Green Ridge Wealth Planning LLC bought a new stake in BlackRock MuniHoldings New Jersey Quality Fund during the fourth quarter valued at about $133,000. Finally, Cary Street Partners Financial LLC bought a new stake in BlackRock MuniHoldings New Jersey Quality Fund during the fourth quarter valued at about $133,000. Hedge funds and other institutional investors own 15.13% of the company's stock.

About BlackRock MuniHoldings New Jersey Quality Fund

BlackRock MuniHoldings New Jersey Quality Fund, Inc is a closed-end municipal bond fund listed on the New York Stock Exchange under the symbol MUJ. The fund seeks to provide current income that is exempt from regular U.S. federal income tax and New Jersey personal income tax.

The fund invests primarily in long-term municipal obligations issued by or on behalf of New Jersey and its municipalities, authorities, and other governmental entities. Its portfolio may include bonds that finance public infrastructure and services such as schools, transportation systems, utilities, health care facilities, and housing projects.

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