BlackRock MuniHoldings New Jersey Quality Fund (NYSE:MUJ) Hits New 12-Month High – Still a Buy?

BlackRock MuniHoldings New Jersey Quality Fund, Inc. (NYSE:MUJ)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $13.50 and last traded at $12.0350, with a volume of 902 shares trading hands. The stock had previously closed at $11.98.

BlackRock MuniHoldings New Jersey Quality Fund Stock Performance

The business has a 50 day moving average of $12.02 and a two-hundred day moving average of $12.08.

BlackRock MuniHoldings New Jersey Quality Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be paid a dividend of $0.054 per share. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC acquired a new position in BlackRock MuniHoldings New Jersey Quality Fund during the 4th quarter worth approximately $60,000. Elyxium Wealth LLC acquired a new position in BlackRock MuniHoldings New Jersey Quality Fund during the 4th quarter worth approximately $69,000. Nomura Holdings Inc. acquired a new position in BlackRock MuniHoldings New Jersey Quality Fund during the 2nd quarter worth approximately $110,000. Sanctuary Advisors LLC acquired a new position in BlackRock MuniHoldings New Jersey Quality Fund during the 1st quarter worth approximately $124,000. Finally, Green Ridge Wealth Planning LLC acquired a new position in BlackRock MuniHoldings New Jersey Quality Fund during the 4th quarter worth approximately $133,000. 15.13% of the stock is owned by institutional investors and hedge funds.

BlackRock MuniHoldings New Jersey Quality Fund Company Profile

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.