BlackRock MuniAssets Fund (NYSE:MUA) Sees Strong Trading Volume – Still a Buy?

BlackRock MuniAssets Fund, Inc. (NYSE:MUA) saw unusually-strong trading volume on Tuesday . Approximately 186,013 shares changed hands during trading, an increase of 32% from the previous session’s volume of 140,541 shares.The stock last traded at $9.94 and had previously closed at $10.04.

BlackRock MuniAssets Fund Stock Up 0.3%

The firm’s fifty day simple moving average is $10.54 and its 200 day simple moving average is $10.68.

BlackRock MuniAssets Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.0555 per share. This represents a c) annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Trading of BlackRock MuniAssets Fund

A number of hedge funds have recently made changes to their positions in MUA. NewEdge Advisors LLC lifted its position in BlackRock MuniAssets Fund by 2.5% in the 2nd quarter. NewEdge Advisors LLC now owns 50,328 shares of the investment management company’s stock worth $523,000 after buying an additional 1,217 shares in the last quarter. Fortitude Advisory Group L.L.C. boosted its stake in shares of BlackRock MuniAssets Fund by 7.2% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 28,035 shares of the investment management company’s stock worth $309,000 after acquiring an additional 1,872 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its position in BlackRock MuniAssets Fund by 14.8% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 15,500 shares of the investment management company’s stock worth $166,000 after purchasing an additional 2,000 shares during the period. Wells Fargo & Company MN grew its stake in BlackRock MuniAssets Fund by 3.3% in the 4th quarter. Wells Fargo & Company MN now owns 114,743 shares of the investment management company’s stock valued at $1,229,000 after buying an additional 3,653 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in shares of BlackRock MuniAssets Fund by 3.0% in the fourth quarter. Osaic Holdings Inc. now owns 156,361 shares of the investment management company’s stock valued at $1,675,000 after purchasing an additional 4,614 shares during the last quarter. 20.38% of the stock is owned by hedge funds and other institutional investors.

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.