BlackRock MuniAssets Fund (NYSE:MUA) Share Price Breaks Below 50 Day Moving Average – Time to Sell?

Shares of BlackRock MuniAssets Fund, Inc. (NYSE:MUA) crossed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $9.61 and traded as low as $9.55. BlackRock MuniAssets Fund shares last traded at $9.6030, with a volume of 362,173 shares.

BlackRock MuniAssets Fund Stock Down 1.3%

The firm has a fifty day moving average of $9.61 and a 200-day moving average of $10.40.

BlackRock MuniAssets Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a $0.0555 dividend. This represents a $0.67 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Friday, November 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE bought a new position in BlackRock MuniAssets Fund during the 2nd quarter worth about $15,179,000. Rivernorth Capital Management LLC boosted its position in shares of 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 buying an additional 555,694 shares during the period. Advisors Asset Management Inc. bought a new position in shares of BlackRock MuniAssets Fund during the third quarter worth about $6,454,000. Van ECK Associates Corp grew its holdings in shares of 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 buying an additional 90,992 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of BlackRock MuniAssets Fund by 8.8% during the first quarter. PNC Financial Services Group Inc. now owns 280,957 shares of the investment management company’s stock worth $2,981,000 after buying an additional 22,632 shares in the last quarter. 20.38% of the stock is currently owned by institutional investors.

About BlackRock MuniAssets Fund

BlackRock MuniAssets Fund, Inc. is a closed-end investment fund managed by BlackRock. Rather than operating a business, it invests in a portfolio of municipal securities issued by U.S. state and local governments and related entities. The fund’s investment objective is to provide a high level of current income that is exempt from regular federal income tax, consistent with its investment policies. Its portfolio primarily comprises municipal obligations, whose proceeds may support public projects and services such as transportation, education, utilities and health care.