Short Interest in BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC) Rises By 154.9%

Key Points

• Short interest surged 154.9% to 124,646 shares as of August 31, though only 0.1% of MUC’s shares are sold short and the days-to-cover ratio remains low at 0.4.
• Institutional investors increased their positions, with Rivernorth Capital Management and Allspring Global Investments among the largest buyers. Hedge funds and other institutions own 30.99% of the fund.
• MUC opened at $10.34, near its 52-week low of $10.20, and announced a monthly $0.0535 dividend, representing a 6.2% annualized yield.

BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC - Get Free Report) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 124,646 shares, an increase of 154.9% from the August 15th total of 48,896 shares. Currently, 0.1% of the company's shares are sold short. Based on an average daily volume of 352,944 shares, the days-to-cover ratio is presently 0.4 days.

Hedge Funds Weigh In On BlackRock MuniHoldings California Quality Fund

A number of large investors have recently made changes to their positions in MUC. Rivernorth Capital Management LLC boosted its holdings in BlackRock MuniHoldings California Quality Fund by 55.2% during the 4th quarter. Rivernorth Capital Management LLC now owns 2,308,887 shares of the company's stock valued at $24,474,000 after acquiring an additional 821,347 shares during the period. Allspring Global Investments Holdings LLC grew its position in BlackRock MuniHoldings California Quality Fund by 85.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,100,165 shares of the company's stock valued at $11,442,000 after acquiring an additional 507,112 shares during the last quarter. Advisors Asset Management Inc. increased its stake in BlackRock MuniHoldings California Quality Fund by 51.8% in the fourth quarter. Advisors Asset Management Inc. now owns 1,351,242 shares of the company's stock worth $14,323,000 after purchasing an additional 461,268 shares during the period. Fiera Capital Corp purchased a new stake in BlackRock MuniHoldings California Quality Fund in the fourth quarter worth $4,665,000. Finally, Bank of America Corp DE lifted its position in shares of BlackRock MuniHoldings California Quality Fund by 21.0% during the first quarter. Bank of America Corp DE now owns 2,268,949 shares of the company's stock worth $23,597,000 after purchasing an additional 393,995 shares during the last quarter. 30.99% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniHoldings California Quality Fund Stock Performance

Shares of MUC opened at $10.34 on Friday. The business has a fifty day moving average of $10.69 and a 200 day moving average of $10.73. BlackRock MuniHoldings California Quality Fund has a 52-week low of $10.20 and a 52-week high of $11.16.

BlackRock MuniHoldings California Quality Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be paid a $0.0535 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a c) annualized dividend and a dividend yield of 6.2%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.