BlackRock MuniHoldings California Quality Fund (NYSE:MUC) Sees Large Volume Increase – Here’s Why

BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC) saw unusually-high trading volume on Thursday. Approximately 845,641 shares traded hands during trading, an increase of 126% from the previous session’s volume of 373,895 shares. The stock last traded at $9.6680 and had previously closed at $9.63.

BlackRock MuniHoldings California Quality Fund Stock Performance

The company’s 50-day simple moving average is $10.26 and its 200 day simple moving average is $10.58.

BlackRock MuniHoldings California Quality Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be given a dividend of $0.0535 per share. This represents a $0.64 annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Friday, December 11th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meridian Investment Counsel Inc. bought a new stake in BlackRock MuniHoldings California Quality Fund during the first quarter worth approximately $134,000. Whittier Trust Co. bought a new stake in shares of BlackRock MuniHoldings California Quality Fund in the 1st quarter valued at approximately $141,000. Decision Investments Inc. lifted its stake in shares of BlackRock MuniHoldings California Quality Fund by 14.3% in the 3rd quarter. Decision Investments Inc. now owns 16,029 shares of the company’s stock valued at $156,000 after purchasing an additional 2,000 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of BlackRock MuniHoldings California Quality Fund in the 1st quarter valued at approximately $166,000. Finally, Avantax Planning Partners Inc. purchased a new position in shares of BlackRock MuniHoldings California Quality Fund in the 1st quarter worth approximately $188,000. 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 investment fund 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 municipal bonds and other municipal obligations.

The fund’s portfolio generally consists of investment-grade or otherwise creditworthy securities issued by California municipalities, public agencies and related governmental entities.