BlackRock MuniAssets Fund (NYSE:MUA) Hits New 52-Week Low – Here’s Why

BlackRock MuniAssets Fund, Inc. (NYSE:MUA) hit a new 52-week low during trading on Monday . The company traded as low as $9.91 and last traded at $9.93, with a volume of 205445 shares. The stock had previously closed at $9.94.

BlackRock MuniAssets Fund Stock Performance

The company has a 50 day simple moving average of $10.48 and a two-hundred day simple moving average of $10.65.

BlackRock MuniAssets Fund Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased 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 purchasing an additional 1,217 shares during the last quarter. Fortitude Advisory Group L.L.C. lifted its holdings 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 valued at $309,000 after buying an additional 1,872 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of BlackRock MuniAssets Fund by 14.8% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 15,500 shares of the investment management company’s stock valued at $166,000 after buying an additional 2,000 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of 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 in the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of BlackRock MuniAssets Fund by 3.0% in the 4th quarter. Osaic Holdings Inc. now owns 156,361 shares of the investment management company’s stock valued at $1,675,000 after buying an additional 4,614 shares in 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.