MUC: I Still Like California's Muni Bonds, But Only At A Discount [Seeking Alpha]
Blackrock MuniHoldings California Quality Fund, Inc. (MUC)
US:NYSE Investor Relations:
blackrock.com/investing/products/240270/blackrock-muniholdings-california-insured-fund-inc-usd-fund
Company Research
Source: Seeking Alpha
SummaryThe BlackRock MuniHoldings California Quality Fund trades at a hefty discount to NAV, which is the type of value I am looking for in this environment.The fund's distribution was just recently raised, and its tax-free yield is especially attractive at over 4%.California will undoubtedly face fiscal pressures in the near term. However, the state has a rainy day fund that will act as a cushion.Main ThesisThe purpose of this article is to evaluate the BlackRock MuniHoldings California Quality Fund (MUCBackgroundFirst, a little background about MUC. The fund invests "primarily in municipal obligations exempt from federal income taxes (except the federal alternative minimum tax) and California income taxes". Currently, it is trading at $13.28/share and pays a monthly distribution of $.046/share, which translates to an annual yield of 4.03%. This is my first review of MUC, and has come about because the funds I normally consider for California muni bond exposure are not offering the r
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Sec Filings
- 4/3/24 - Form N-CSRS
- 3/27/24 - Form NPORT-P
- 3/1/24 - Form N-23C-2
- MUC's page on the SEC website