BlackRock MuniHoldings California Quality Fund (NYSE:MUC) Sets New 12-Month Low – Time to Sell?

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

BlackRock MuniHoldings California Quality Fund Stock Down 0.9%

The company’s 50 day moving average is $10.57 and its 200 day moving average is $10.69.

BlackRock MuniHoldings California 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 issued a $0.0535 dividend. The ex-dividend date is Friday, December 11th. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MUC. Bank of America Corp DE grew its holdings in BlackRock MuniHoldings California Quality Fund by 21.0% in the first 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. Allspring Global Investments Holdings LLC grew its position in shares of BlackRock MuniHoldings California Quality Fund by 85.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,100,165 shares of the company’s stock valued at $11,442,000 after purchasing an additional 507,112 shares during the period. Western Wealth Management LLC acquired a new position in shares of BlackRock MuniHoldings California Quality Fund during the 1st quarter worth about $633,000. Rareview Capital LLC lifted its stake in BlackRock MuniHoldings California Quality Fund by 628.0% in the 1st quarter. Rareview Capital LLC now owns 183,505 shares of the company’s stock valued at $1,899,000 after buying an additional 158,298 shares in the last quarter. Finally, Trilogy Capital Inc. acquired a new stake in BlackRock MuniHoldings California Quality Fund in the 1st quarter worth about $1,743,000. Hedge funds and other institutional investors own 30.99% of the company’s stock.

BlackRock MuniHoldings California Quality Fund Company Profile

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.