BlackRock MuniHoldings California Quality Fund (NYSE:MUC) Hits New 1-Year High – Still a Buy?

Shares of BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC) hit a new 52-week high during trading on Thursday . The company traded as high as $11.05 and last traded at $11.0750, with a volume of 32017 shares. The stock had previously closed at $11.01.

BlackRock MuniHoldings California Quality Fund Stock Up 0.4%

The firm’s fifty day moving average is $10.79 and its two-hundred day moving average is $10.76.

BlackRock MuniHoldings California Quality Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a $0.0535 dividend. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, September 15th.

Hedge Funds Weigh In On BlackRock MuniHoldings California Quality Fund

Several hedge funds and other institutional investors have recently modified their holdings of MUC. WFA of San Diego LLC bought a new position in BlackRock MuniHoldings California Quality Fund in the second quarter worth about $26,000. Elyxium Wealth LLC bought a new stake in BlackRock MuniHoldings California Quality Fund during the 4th quarter valued at approximately $69,000. Nomura Holdings Inc. bought a new stake in BlackRock MuniHoldings California Quality Fund during the 2nd quarter valued at approximately $104,000. Pasadena Private Wealth LLC purchased a new position in shares of BlackRock MuniHoldings California Quality Fund during the 4th quarter worth approximately $106,000. Finally, Moody National Bank Trust Division purchased a new position in shares of BlackRock MuniHoldings California Quality Fund during the 4th quarter worth approximately $114,000. 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 (NYSE: MUC) is a closed-end management investment company that seeks to provide high-quality, federally and California tax-exempt income. The fund primarily invests in investment-grade municipal obligations issued by or on behalf of entities located in California, including general obligation bonds and revenue bonds that finance public projects such as schools, transportation infrastructure and utilities.

The fund’s portfolio construction emphasizes credit quality and geographic concentration, targeting bonds rated at or above investment grade by nationally recognized statistical rating organizations.