BlackRock MuniHoldings California Quality Fund (NYSE:MUC) Sees Unusually-High Trading Volume - Here's Why

Key Points

• MUC trading volume surged 126% to 845,641 shares, while the fund traded at $9.668, up approximately 0.7% from its prior close.
• The fund declared a monthly dividend of $0.0535 per share, equivalent to about $0.64 annually and a 6.6% yield; the ex-dividend date is December 11.
• Institutional investors own 30.99% of MUC, with several firms increasing their positions. The closed-end fund primarily invests in California municipal bonds to generate federally and state tax-exempt income.

Shares of BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC - Get Free Report) saw unusually-high trading volume on Thursday. 845,641 shares were traded during mid-day trading, an increase of 126% from the previous session's volume of 373,895 shares. The stock last traded at $9.6680 and had previously closed at $9.63.

BlackRock MuniHoldings California Quality Fund Trading Up 0.7%

The business's fifty day simple moving average is $10.26 and its 200-day simple moving average is $10.58.

BlackRock MuniHoldings California Quality Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be given a dividend of $0.0535 per share. The ex-dividend date is Friday, December 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.6%.

Hedge Funds Weigh In On BlackRock MuniHoldings California Quality Fund

Several institutional investors have recently bought and sold shares of MUC. Allspring Global Investments Holdings LLC increased its stake 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 worth $11,442,000 after acquiring an additional 507,112 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of BlackRock MuniHoldings California Quality Fund by 21.0% during the 1st quarter. Bank of America Corp DE now owns 2,268,949 shares of the company's stock worth $23,597,000 after acquiring an additional 393,995 shares in the last quarter. Trilogy Capital Inc. bought a new position in shares of BlackRock MuniHoldings California Quality Fund during the 1st quarter valued at approximately $1,743,000. Rareview Capital LLC boosted its position in shares of BlackRock MuniHoldings California Quality Fund by 628.0% during the 1st quarter. Rareview Capital LLC now owns 183,505 shares of the company's stock valued at $1,899,000 after acquiring an additional 158,298 shares during the last quarter. Finally, Hollencrest Capital Management boosted its position in shares of BlackRock MuniHoldings California Quality Fund by 35.8% during the 1st quarter. Hollencrest Capital Management now owns 307,635 shares of the company's stock valued at $3,199,000 after acquiring an additional 81,115 shares during the last quarter. 30.99% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniHoldings California Quality Fund Company Profile

BlackRock MuniHoldings California Quality Fund, Inc is a closed-end investment fund 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 municipal bonds and other municipal obligations.

The fund's portfolio generally consists of investment-grade or otherwise creditworthy securities issued by California municipalities, public agencies and related governmental entities.

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