BlackRock MuniAssets Fund, Inc. (NYSE:MUA) Stock Short Interest Jumps 128.4%

BlackRock MuniAssets Fund, Inc. (NYSE:MUA – Get Free Report) saw a large increase in short interest in September. As of September 30th, there was short interest totaling 134,412 shares, an increase of 128.4% from the September 15th total of 58,845 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average trading volume of 571,769 shares, the days-to-cover ratio is presently 0.2 days.

BlackRock MuniAssets Fund Stock Up 0.1%

Shares of BlackRock MuniAssets Fund stock traded up $0.01 during trading hours on Thursday, reaching $9.33. 35,857 shares of the company were exchanged, compared to its average volume of 196,345. BlackRock MuniAssets Fund has a 1 year low of $9.13 and a 1 year high of $11.26. The stock’s fifty day moving average is $9.78 and its 200 day moving average is $10.35.

BlackRock MuniAssets Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a $0.0555 dividend. This represents a $0.67 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Friday, December 11th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Bank of America Corp DE purchased a new stake in shares of BlackRock MuniAssets Fund in the second quarter valued at about $15,179,000. Rivernorth Capital Management LLC raised its holdings in BlackRock MuniAssets Fund by 177.9% during the second quarter. Rivernorth Capital Management LLC now owns 868,104 shares of the investment management company’s stock worth $9,451,000 after purchasing an additional 555,694 shares in the last quarter. Absolute Investment Advisers LLC purchased a new position in BlackRock MuniAssets Fund during the first quarter worth about $1,349,000. Van ECK Associates Corp raised its holdings in BlackRock MuniAssets Fund by 27.0% during the second quarter. Van ECK Associates Corp now owns 428,231 shares of the investment management company’s stock worth $4,715,000 after purchasing an additional 90,992 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in BlackRock MuniAssets Fund by 89.2% in the first quarter. Royal Bank of Canada now owns 171,937 shares of the investment management company’s stock valued at $1,824,000 after purchasing an additional 81,069 shares during the period. Hedge funds and other institutional investors 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 investment company managed by BlackRock Advisors, LLC. The fund’s primary objective is to provide current income that is exempt from regular U.S. federal income tax.

The fund invests primarily in municipal bonds and other municipal obligations issued by states, territories, municipalities and governmental authorities in the United States. Its portfolio may include general obligation bonds, revenue bonds and other tax-exempt securities, with the selection of investments focused on supporting the fund’s income objective while managing credit and interest-rate risks.

BlackRock MuniAssets Fund is designed for investors seeking tax-exempt income through a professionally managed portfolio of municipal securities.

Further Reading

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