BlackRock MuniHoldings California Quality Fund (NYSE:MUC) Sets New 12-Month Low - What's Next?

Key Points

• BlackRock MuniHoldings California Quality Fund fell to a new 52-week low, trading as low as $9.61 and closing near $9.66, below its 50-day and 200-day moving averages.
• The fund declared a monthly dividend of $0.0535 per share, equivalent to approximately $0.64 annually and a 6.6% yield.
• Institutional investors and hedge funds own 30.99% of the fund, with several firms increasing their positions recently. MUC invests mainly in California municipal obligations to provide tax-exempt income.

BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC - Get Free Report) reached a new 52-week low during trading on Tuesday. The stock traded as low as $9.61 and last traded at $9.66, with a volume of 867408 shares trading hands. The stock had previously closed at $9.82.

BlackRock MuniHoldings California Quality Fund Trading Down 1.6%

The firm has a 50-day moving average of $10.49 and a 200 day moving average of $10.66.

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 given a $0.0535 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.64 annualized dividend and a dividend yield of 6.6%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Trilogy Capital Inc. increased its stake in shares of BlackRock MuniHoldings California Quality Fund by 0.8% during the second quarter. Trilogy Capital Inc. now owns 168,900 shares of the company's stock valued at $1,856,000 after buying an additional 1,301 shares during the period. Van Hulzen Asset Management LLC grew its position in shares of BlackRock MuniHoldings California Quality Fund by 14.8% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 20,532 shares of the company's stock worth $226,000 after buying an additional 2,650 shares during the last quarter. NWF Advisory Services Inc. increased its position in shares of BlackRock MuniHoldings California Quality Fund by 22.5% during the first quarter. NWF Advisory Services Inc. now owns 22,002 shares of the company's stock worth $229,000 after purchasing an additional 4,044 shares in the last quarter. Decision Investments Inc. increased its position in BlackRock MuniHoldings California Quality Fund by 58.9% during the 1st quarter. Decision Investments Inc. now owns 16,529 shares of the company's stock valued at $172,000 after buying an additional 6,128 shares in the last quarter. Finally, Wedbush Securities Inc. increased its holdings in shares of BlackRock MuniHoldings California Quality Fund by 5.2% during the second quarter. Wedbush Securities Inc. now owns 126,730 shares of the company's stock valued at $1,393,000 after acquiring an additional 6,298 shares in the last quarter. Institutional investors and hedge funds own 30.99% of the company's stock.

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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