BlackRock MuniAssets Fund (NYSE:MUA) Sees Unusually-High Trading Volume – Should You Buy?

Shares of BlackRock MuniAssets Fund, Inc. (NYSE:MUA – Get Free Report) saw strong trading volume on Wednesday . Approximately 216,024 shares changed hands during mid-day trading, an increase of 60% from the previous session’s volume of 135,410 shares.The stock last traded at $10.0840 and had previously closed at $10.06.

BlackRock MuniAssets Fund Stock Up 0.2%

The firm has a fifty day moving average price of $10.59 and a 200 day moving average price of $10.71.

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BlackRock MuniAssets Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid 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 yield of 6.6%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Bank of America Corp DE bought a new position in BlackRock MuniAssets Fund in the 2nd quarter valued at $15,179,000. Northwestern Mutual Wealth Management Co. raised its position in shares of BlackRock MuniAssets Fund by 3,439.9% during 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 acquiring an additional 240,894 shares during the last quarter. Rivernorth Capital Management LLC acquired a new position in shares of BlackRock MuniAssets Fund during the fourth quarter valued at $2,210,000. Advisors Asset Management Inc. lifted its stake in shares of BlackRock MuniAssets Fund by 77.8% during the fourth quarter. Advisors Asset Management Inc. now owns 384,686 shares of the investment management company’s stock valued at $4,120,000 after acquiring an additional 168,356 shares during the period. Finally, Absolute Investment Advisers LLC bought a new position in BlackRock MuniAssets Fund in the first quarter valued at about $1,349,000. 20.38% of the stock is owned by institutional investors.

About BlackRock MuniAssets Fund

(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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