Harris Stayce D., a director at BlackRock (NYSE:BLK) MuniHoldings Quality Fund II, Inc. (NYSE:MUE), recently acquired shares in the company. According to a Form 4 filing with the Securities and Exchange Commission, Stayce purchased 10 shares of common stock on October 29, 2024, at a price of $10.19 per share, totaling approximately $101.
This transaction marks the first instance of ownership for Stayce, who now holds 10 shares directly. The purchase was conducted without any equity swap involvement. The filing was signed by Gladys Chang, acting as Attorney-in-Fact, and submitted on October 30, 2024.
InvestingPro Insights
The recent insider purchase by Harris Stayce D. at BlackRock MuniHoldings Quality Fund II, Inc. (NYSE:MUE) comes at an interesting time for the company. According to InvestingPro data, MUE's stock is currently trading at $10.22, which is 94.11% of its 52-week high, suggesting the director's purchase was made near the upper end of the fund's recent trading range.
MUE's market capitalization stands at $224.22 million, with a P/E ratio of 15.95, indicating a moderate valuation compared to some peers in the investment management sector. The fund's dividend yield of 5.99% is particularly noteworthy, especially considering one of the InvestingPro Tips highlights that MUE "Has maintained dividend payments for 26 consecutive years." This long-standing dividend history may be attractive to income-focused investors and aligns with the fund's quality-oriented investment approach.
Another relevant InvestingPro Tip states that the "Stock generally trades with low price volatility," which could explain why the director felt comfortable making a purchase at current levels. This characteristic may appeal to investors seeking stability in their municipal bond fund holdings.
For those interested in a deeper analysis, InvestingPro offers additional tips and metrics that could provide further context to this insider transaction and the fund's overall performance. There are 4 more InvestingPro Tips available for MUE, which could offer valuable insights for potential investors.
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