BlackRock MuniAssets Fund (NYSE:MUA) Reaches New 1-Year Low – Time to Sell?

BlackRock MuniAssets Fund, Inc. (NYSE:MUA) hit a new 52-week low during trading on Wednesday . The company traded as low as $10.05 and last traded at $10.1050, with a volume of 295997 shares changing hands. The stock had previously closed at $10.08.

BlackRock MuniAssets Fund Stock Up 0.2%

The stock has a 50 day moving average of $10.70 and a two-hundred day moving average of $10.77.

BlackRock MuniAssets Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.0555 per share. 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%.

Hedge Funds Weigh In On BlackRock MuniAssets Fund

A number of institutional investors have recently modified their holdings of MUA. Kestra Advisory Services LLC acquired a new stake in shares of BlackRock MuniAssets Fund in the fourth quarter worth $50,000. Hollencrest Capital Management bought a new stake in shares of BlackRock MuniAssets Fund during the 1st quarter worth $52,000. Advisory Services Network LLC acquired a new position in BlackRock MuniAssets Fund in the 3rd quarter valued at $75,000. Northwestern Mutual Wealth Management Co. grew its stake in BlackRock MuniAssets Fund by 212.4% in the 2nd 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 last quarter. Finally, Fifth Third Bancorp acquired a new position in BlackRock MuniAssets Fund in the 1st quarter valued at $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.