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

Shares of BlackRock MuniAssets Fund, Inc. (NYSE:MUA – Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $10.17 and last traded at $10.1650, with a volume of 254282 shares. The stock had previously closed at $10.24.

BlackRock MuniAssets Fund Price Performance

The stock’s 50 day simple moving average is $10.72 and its 200-day simple moving average is $10.78.

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BlackRock MuniAssets Fund Announces Dividend

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

Institutional Trading of BlackRock MuniAssets Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MUA. Kestra Advisory Services LLC acquired a new position in BlackRock MuniAssets Fund during the 4th quarter valued at $50,000. Hollencrest Capital Management bought a new stake in BlackRock MuniAssets Fund in the 1st quarter valued at $52,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of BlackRock MuniAssets Fund by 212.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,003 shares of the investment management company’s stock valued at $73,000 after acquiring an additional 4,761 shares in the last quarter. Advisory Services Network LLC bought a new position in BlackRock MuniAssets Fund during the third quarter worth about $75,000. Finally, Fifth Third Bancorp acquired a new position in shares of BlackRock MuniAssets Fund in the 1st quarter worth approximately $95,000. Institutional investors and hedge funds own 20.38% of the company’s stock.

BlackRock MuniAssets Fund Company Profile

(Get Free Report)

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.

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