BlackRock MuniAssets Fund (NYSE:MUA) Hits New 12-Month Low – Should You Sell?

BlackRock MuniAssets Fund, Inc. (NYSE:MUA)’s share price reached a new 52-week low on Monday . The stock traded as low as $9.97 and last traded at $10.0060, with a volume of 41152 shares traded. The stock had previously closed at $10.04.

BlackRock MuniAssets Fund Stock Performance

The business has a 50 day moving average price of $10.53 and a two-hundred day moving average price of $10.68.

BlackRock MuniAssets Fund Announces Dividend

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

Institutional Trading of BlackRock MuniAssets Fund

Several large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in BlackRock MuniAssets Fund by 21.6% during the 1st quarter. Royal Bank of Canada now owns 102,310 shares of the investment management company’s stock valued at $1,108,000 after acquiring an additional 18,157 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of BlackRock MuniAssets Fund by 212.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,003 shares of the investment management company’s stock valued at $73,000 after buying an additional 4,761 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of 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 purchasing an additional 1,217 shares in the last quarter. Jane Street Group LLC bought a new stake in BlackRock MuniAssets Fund in the 2nd quarter worth about $193,000. Finally, Bank of America Corp DE grew its stake in shares of BlackRock MuniAssets Fund by 1.6% in the second quarter. Bank of America Corp DE now owns 1,259,071 shares of the investment management company’s stock worth $13,094,000 after acquiring an additional 20,381 shares during the period. Institutional investors 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.