BlackRock MuniHoldings California Quality Fund (NYSE:MUC) Sets New 1-Year Low – Should You Sell?

BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC) reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $10.00 and last traded at $9.9950, with a volume of 418986 shares changing hands. The stock had previously closed at $10.11.

BlackRock MuniHoldings California Quality Fund Stock Performance

The company has a 50 day simple moving average of $10.54 and a two-hundred day simple moving average of $10.68.

BlackRock MuniHoldings California Quality Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be paid a dividend of $0.0535 per share. This represents a $0.64 annualized dividend and a yield of 6.5%. The ex-dividend date is Friday, December 11th.

Institutional Trading of BlackRock MuniHoldings California Quality Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in MUC. Allspring Global Investments Holdings LLC grew its stake in shares of BlackRock MuniHoldings California Quality Fund by 85.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,100,165 shares of the company’s stock worth $11,442,000 after purchasing an additional 507,112 shares during the period. Fiera Capital Corp purchased a new position in shares of BlackRock MuniHoldings California Quality Fund during the 4th quarter valued at approximately $4,665,000. Bank of America Corp DE lifted its stake in shares of BlackRock MuniHoldings California Quality Fund by 21.0% in the 1st quarter. Bank of America Corp DE now owns 2,268,949 shares of the company’s stock valued at $23,597,000 after purchasing an additional 393,995 shares during the period. Trilogy Capital Inc. acquired a new position in shares of BlackRock MuniHoldings California Quality Fund in the 1st quarter valued at $1,743,000. Finally, Rareview Capital LLC boosted its holdings in BlackRock MuniHoldings California Quality Fund by 628.0% during the first quarter. Rareview Capital LLC now owns 183,505 shares of the company’s stock worth $1,899,000 after buying an additional 158,298 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.