BlackRock MuniHoldings California Quality Fund (NYSE:MUC) Reaches New 52-Week Low - Here's What Happened

Key Points

• BlackRock MuniHoldings California Quality Fund (NYSE:MUC) fell to a new 52-week low of $10.20 and last traded at $10.166, below its 50-day and 200-day moving averages of $10.68 and $10.73.
• The fund declared a monthly dividend of $0.0535 per share, payable December 22 to shareholders of record December 11, representing an annualized yield of approximately 6.3%.
• Institutional investors owned 30.99% of MUC, with several firms increasing their positions during the second quarter; the closed-end fund invests mainly in California municipal obligations designed to generate federally and state tax-exempt income.

BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC - Get Free Report)'s stock price hit a new 52-week low on Tuesday . The company traded as low as $10.20 and last traded at $10.1660, with a volume of 5000 shares trading hands. The stock had previously closed at $10.28.

BlackRock MuniHoldings California Quality Fund Stock Performance

The stock's fifty day moving average is $10.68 and its 200-day moving average is $10.73.

BlackRock MuniHoldings California Quality Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be paid a dividend of $0.0535 per share. This represents a c) annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, December 11th.

Institutional Trading of BlackRock MuniHoldings California Quality Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van Hulzen Asset Management LLC boosted its position in BlackRock MuniHoldings California Quality Fund by 14.8% during the second quarter. Van Hulzen Asset Management LLC now owns 20,532 shares of the company's stock worth $226,000 after purchasing an additional 2,650 shares during the period. Integrated Wealth Concepts LLC increased its position in shares of BlackRock MuniHoldings California Quality Fund by 30.0% in the second quarter. Integrated Wealth Concepts LLC now owns 43,430 shares of the company's stock worth $477,000 after purchasing an additional 10,018 shares during the period. Readystate Asset Management LP acquired a new position in shares of BlackRock MuniHoldings California Quality Fund in the 2nd quarter valued at approximately $240,000. Susquehanna International Group LLP raised its position in BlackRock MuniHoldings California Quality Fund by 48.1% during the second quarter. Susquehanna International Group LLP now owns 22,160 shares of the company's stock valued at $244,000 after purchasing an additional 7,201 shares in the last quarter. Finally, Wedbush Securities Inc. raised its holdings in shares of BlackRock MuniHoldings California Quality Fund by 5.2% during the 2nd quarter. Wedbush Securities Inc. now owns 126,730 shares of the company's stock worth $1,393,000 after buying an additional 6,298 shares in the last quarter. 30.99% of the stock is owned by institutional investors.

BlackRock MuniHoldings California Quality Fund Company Profile

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.