Beach Point Capital Management LP Makes New Investment in BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC)

Beach Point Capital Management LP bought a new stake in BlackRock MuniHoldings California Quality Fund, Inc. (NYSE:MUC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 318,949 shares of the company’s stock, valued at approximately $3,461,000. BlackRock MuniHoldings California Quality Fund makes up about 1.4% of Beach Point Capital Management LP’s portfolio, making the stock its 16th largest holding. Beach Point Capital Management LP owned about 0.33% of BlackRock MuniHoldings California Quality Fund at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MUC. Morgan Stanley boosted its holdings in BlackRock MuniHoldings California Quality Fund by 19.3% in the 4th quarter. Morgan Stanley now owns 4,718,035 shares of the company’s stock valued at $50,672,000 after purchasing an additional 762,169 shares in the last quarter. Karpus Management Inc. boosted its stake in shares of BlackRock MuniHoldings California Quality Fund by 33.1% in the first quarter. Karpus Management Inc. now owns 2,417,196 shares of the company’s stock valued at $26,734,000 after buying an additional 601,739 shares in the last quarter. Guggenheim Capital LLC grew its holdings in BlackRock MuniHoldings California Quality Fund by 3.9% during the first quarter. Guggenheim Capital LLC now owns 1,178,881 shares of the company’s stock worth $15,420,000 after acquiring an additional 44,371 shares during the period. Wells Fargo & Company MN raised its position in BlackRock MuniHoldings California Quality Fund by 107.9% in the second quarter. Wells Fargo & Company MN now owns 848,960 shares of the company’s stock worth $10,163,000 after acquiring an additional 440,672 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in BlackRock MuniHoldings California Quality Fund by 4.7% in the first quarter. Bank of America Corp DE now owns 722,890 shares of the company’s stock valued at $9,455,000 after acquiring an additional 32,508 shares during the period. 25.47% of the stock is currently owned by institutional investors and hedge funds.

BlackRock MuniHoldings California Quality Fund Price Performance

Shares of NYSE MUC traded up $0.01 during trading on Friday, hitting $10.38. 374,533 shares of the company were exchanged, compared to its average volume of 335,497. BlackRock MuniHoldings California Quality Fund, Inc. has a 1 year low of $9.19 and a 1 year high of $11.71. The firm’s fifty day moving average price is $9.74 and its 200 day moving average price is $10.32.

BlackRock MuniHoldings California Quality Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 15th will be given a dividend of $0.0485 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.58 annualized dividend and a yield of 5.61%.

BlackRock MuniHoldings California Quality Fund Company Profile

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.