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

BlackRock MuniAssets Fund, Inc. (NYSE:MUA) shares reached a new 52-week low on Thursday . The stock traded as low as $10.17 and last traded at $10.1650, with a volume of 254282 shares. The stock had previously closed at $10.24.

BlackRock MuniAssets Fund Price Performance

The business’s 50 day moving average price is $10.73 and its 200-day moving average price is $10.79.

BlackRock MuniAssets Fund Announces Dividend

The company 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 dividend of $0.0555 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 6.5%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MUA. Rivernorth Capital Management LLC increased its holdings in shares of BlackRock MuniAssets Fund by 51.4% in the 1st quarter. Rivernorth Capital Management LLC now owns 312,410 shares of the investment management company’s stock valued at $3,315,000 after acquiring an additional 106,043 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in 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 purchasing an additional 240,894 shares during the last quarter. Absolute Investment Advisers LLC acquired a new position in BlackRock MuniAssets Fund in the first quarter worth $1,349,000. Jane Street Group LLC boosted its holdings in BlackRock MuniAssets Fund by 160.5% in the fourth quarter. Jane Street Group LLC now owns 34,465 shares of the investment management company’s stock worth $369,000 after purchasing an additional 21,234 shares during the period. Finally, NewEdge Advisors LLC increased its stake in BlackRock MuniAssets Fund by 2.5% during the second quarter. NewEdge Advisors LLC now owns 50,328 shares of the investment management company’s stock valued at $523,000 after purchasing an additional 1,217 shares during the last quarter. Institutional investors and hedge funds own 20.38% of the company’s stock.

BlackRock MuniAssets Fund Company Profile

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.