BlackRock MuniAssets Fund (NYSE:MUA) Reaches New 1-Year Low – Time to Sell?

BlackRock MuniAssets Fund, Inc. (NYSE:MUA) hit a new 52-week low during trading on Wednesday . The stock traded as low as $10.05 and last traded at $10.1050, with a volume of 295997 shares changing hands. The stock had previously closed at $10.08.

BlackRock MuniAssets Fund Stock Up 0.2%

The business has a fifty day moving average of $10.70 and a 200 day moving average of $10.77.

BlackRock MuniAssets Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a $0.0555 dividend. This represents a c) annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Rivernorth Capital Management LLC lifted its stake in shares of BlackRock MuniAssets Fund by 51.4% in the 1st quarter. Rivernorth Capital Management LLC now owns 312,410 shares of the investment management company’s stock valued at $3,315,000 after purchasing an additional 106,043 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in BlackRock MuniAssets Fund by 3,439.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 247,897 shares of the investment management company’s stock worth $2,655,000 after purchasing an additional 240,894 shares in the last quarter. Absolute Investment Advisers LLC acquired a new position in BlackRock MuniAssets Fund during the first quarter worth $1,349,000. Arlington Capital Management Inc. acquired a new position in BlackRock MuniAssets Fund during the first quarter worth $178,000. Finally, PFG Investments LLC acquired a new position in BlackRock MuniAssets Fund during the first quarter worth $223,000. Institutional investors and hedge funds own 20.38% of the company’s stock.

About BlackRock MuniAssets Fund

BlackRock MuniAssets Fund, Inc (NYSE: MUA) is a closed-end management investment company that seeks to provide current income exempt from federal income tax. Managed by BlackRock, one of the world’s leading investment managers, the fund primarily invests in a diversified portfolio of investment-grade municipal debt obligations. Its holdings typically include general obligation and revenue bonds issued by state and local governments, utilities, and infrastructure entities across the United States.

The fund employs a combination of active security selection and duration management to navigate changing interest rate and credit environments.