BlackRock MuniAssets Fund (NYSE:MUA) Sets New 12-Month Low – What’s Next?

BlackRock MuniAssets Fund, Inc. (NYSE:MUA)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $10.04 and last traded at $10.0350, with a volume of 92819 shares trading hands. The stock had previously closed at $10.09.

BlackRock MuniAssets Fund Stock Performance

The company has a 50 day simple moving average of $10.58 and a 200 day simple moving average of $10.71.

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 paid a $0.0555 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Tuesday, September 15th.

Institutional Investors Weigh In On BlackRock MuniAssets Fund

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

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.