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BlackRock MuniHoldings New Jersey Quality Fund (NYSE:MUJ) Shares Cross Above 200 Day Moving Average - Should You Sell?

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Key Points

  • MUJ shares briefly crossed above their 200-day moving average of $12.19, reaching $12.29, but later traded at $12.085 and were down 1.1%.
  • The fund announced a $0.054 monthly dividend, payable October 1 to shareholders of record September 15, representing an annualized yield of approximately 5.4%.
  • Several institutional investors increased their positions, while hedge funds and other institutions collectively own 15.13% of MUJ. The closed-end fund invests primarily in investment-grade New Jersey municipal securities to provide federally and state tax-exempt income.
  • Five stocks we like better than BlackRock MuniHoldings New Jersey Quality Fund.

BlackRock MuniHoldings New Jersey Quality Fund, Inc. (NYSE:MUJ - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.19 and traded as high as $12.29. BlackRock MuniHoldings New Jersey Quality Fund shares last traded at $12.0850, with a volume of 171,262 shares trading hands.

BlackRock MuniHoldings New Jersey Quality Fund Trading Down 1.1%

The business's 50 day moving average is $12.22 and its 200 day moving average is $12.19.

BlackRock MuniHoldings New Jersey Quality Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a $0.054 dividend. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MUJ. UBS Group AG grew its stake in shares of BlackRock MuniHoldings New Jersey Quality Fund by 0.4% during the fourth quarter. UBS Group AG now owns 259,311 shares of the financial services provider's stock valued at $3,086,000 after buying an additional 1,036 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of BlackRock MuniHoldings New Jersey Quality Fund by 2.8% during the 1st quarter. Royal Bank of Canada now owns 51,595 shares of the financial services provider's stock worth $580,000 after acquiring an additional 1,400 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in shares of BlackRock MuniHoldings New Jersey Quality Fund by 8.3% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 32,859 shares of the financial services provider's stock worth $360,000 after acquiring an additional 2,522 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in BlackRock MuniHoldings New Jersey Quality Fund by 6.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 53,272 shares of the financial services provider's stock valued at $634,000 after acquiring an additional 3,267 shares during the period. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in BlackRock MuniHoldings New Jersey Quality Fund during the 4th quarter valued at $60,000. Hedge funds and other institutional investors own 15.13% of the company's stock.

BlackRock MuniHoldings New Jersey Quality Fund Company Profile

(Get Free Report)

BlackRock MuniHoldings New Jersey Quality Fund NYSE: MUJ is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal and New Jersey state income taxes. The fund primarily invests in investment-grade municipal securities issued by or on behalf of the State of New Jersey and its municipalities, authorities, and instrumentalities. By concentrating on high-quality New Jersey public finance obligations, MUJ aims to offer tax-efficient income for investors with exposure to the state's credit profile.

The fund's portfolio is actively managed by BlackRock's municipal fixed income team, which conducts credit analysis and sector allocation to identify opportunities within New Jersey's diverse municipal marketplace.

Further Reading

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