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

Key Points

• MUJ fell to a new 52-week low of $11.28 during Thursday’s trading, down from its previous close of $11.60 and below its 50-day and 200-day moving averages.
• The fund declared a monthly dividend of $0.054 per share, payable December 22 to shareholders of record December 11, representing a stated yield of approximately 5.8%.
• Institutional investors own 15.13% of MUJ, with several firms—including Fiera Capital and Bank of America—recently increasing their holdings. The closed-end fund invests primarily in New Jersey municipal bonds and seeks tax-exempt income.

BlackRock MuniHoldings New Jersey Quality Fund, Inc. (NYSE:MUJ - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $11.28 and last traded at $11.2850, with a volume of 11470 shares. The stock had previously closed at $11.60.

BlackRock MuniHoldings New Jersey Quality Fund Stock Down 1.1%

The business has a fifty day moving average of $12.06 and a 200 day moving average of $12.12.

BlackRock MuniHoldings New Jersey Quality Fund Dividend Announcement

The business 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 $0.054 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MUJ. Bank of America Corp DE grew its holdings in shares of BlackRock MuniHoldings New Jersey Quality Fund by 4.1% in the 1st quarter. Bank of America Corp DE now owns 454,136 shares of the financial services provider's stock valued at $5,254,000 after buying an additional 17,893 shares during the period. Fiera Capital Corp lifted its holdings in BlackRock MuniHoldings New Jersey Quality Fund by 51.8% during the fourth quarter. Fiera Capital Corp now owns 394,623 shares of the financial services provider's stock worth $4,696,000 after acquiring an additional 134,600 shares in the last quarter. Breakwater Capital Group lifted its holdings in BlackRock MuniHoldings New Jersey Quality Fund by 6.1% during the second quarter. Breakwater Capital Group now owns 239,996 shares of the financial services provider's stock worth $2,954,000 after acquiring an additional 13,780 shares in the last quarter. Cetera Investment Advisers grew its stake in BlackRock MuniHoldings New Jersey Quality Fund by 9.8% in the first quarter. Cetera Investment Advisers now owns 107,428 shares of the financial services provider's stock valued at $1,243,000 after acquiring an additional 9,564 shares during the period. Finally, Closed End Fund Advisors Inc. acquired a new position in BlackRock MuniHoldings New Jersey Quality Fund in the fourth quarter valued at about $256,000. Institutional investors own 15.13% of the company's stock.

BlackRock MuniHoldings New Jersey Quality Fund Company Profile

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.

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.