BlackRock MuniHoldings California Quality Fund (NYSE:MUC) Sees Strong Trading Volume – Still a Buy?

BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC) shares saw unusually-strong trading volume on Tuesday . Approximately 148,158 shares were traded during mid-day trading, a decline of 43% from the previous session’s volume of 260,146 shares.The stock last traded at $10.70 and had previously closed at $10.59.

BlackRock MuniHoldings California Quality Fund Stock Up 0.7 %

The stock has a 50 day simple moving average of $11.08 and a 200 day simple moving average of $11.21.

BlackRock MuniHoldings California Quality Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.0535 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.64 dividend on an annualized basis and a yield of 6.02%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MUC. Commonwealth Equity Services LLC raised its holdings in shares of BlackRock MuniHoldings California Quality Fund by 15.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 64,145 shares of the company’s stock worth $712,000 after acquiring an additional 8,467 shares during the last quarter. Wolverine Asset Management LLC boosted its position in shares of BlackRock MuniHoldings California Quality Fund by 57.4% during the second quarter. Wolverine Asset Management LLC now owns 6,390 shares of the company’s stock valued at $71,000 after buying an additional 2,330 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its position in shares of BlackRock MuniHoldings California Quality Fund by 242.9% during the second quarter. Blue Bell Private Wealth Management LLC now owns 4,800 shares of the company’s stock valued at $53,000 after buying an additional 3,400 shares during the last quarter. Wedbush Securities Inc. grew its holdings in BlackRock MuniHoldings California Quality Fund by 12.1% during the second quarter. Wedbush Securities Inc. now owns 36,314 shares of the company’s stock worth $403,000 after buying an additional 3,914 shares in the last quarter. Finally, Choreo LLC raised its position in BlackRock MuniHoldings California Quality Fund by 5.8% in the 2nd quarter. Choreo LLC now owns 41,135 shares of the company’s stock valued at $453,000 after buying an additional 2,262 shares during the last quarter. 30.99% of the stock is owned by institutional investors.

About BlackRock MuniHoldings California Quality Fund

BlackRock MuniHoldings California Quality Fund, Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in a portfolio of long-term investment-grade municipal obligations, the interest on which is exempt from Federal and California income taxes.