BlackRock MuniAssets Fund (NYSE:MUA) Sees Strong Trading Volume – Here’s What Happened

Shares of BlackRock MuniAssets Fund, Inc. (NYSE:MUA) saw unusually-high trading volume on Wednesday . Approximately 216,024 shares traded hands during mid-day trading, an increase of 60% from the previous session’s volume of 135,410 shares.The stock last traded at $10.0840 and had previously closed at $10.06.

BlackRock MuniAssets Fund Stock Down 0.4%

The business’s fifty day moving average is $10.57 and its 200-day moving average is $10.70.

BlackRock MuniAssets Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a $0.0555 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 6.6%.

Institutional Investors Weigh In On BlackRock MuniAssets Fund

A number of hedge funds have recently modified their holdings of MUA. Oarsman Capital Inc. increased its stake in shares of BlackRock MuniAssets Fund by 17.5% in the 2nd quarter. Oarsman Capital Inc. now owns 129,978 shares of the investment management company’s stock worth $1,431,000 after purchasing an additional 19,344 shares in the last quarter. Rivernorth Capital Management LLC raised its holdings in BlackRock MuniAssets Fund by 177.9% in the 2nd quarter. Rivernorth Capital Management LLC now owns 868,104 shares of the investment management company’s stock worth $9,451,000 after purchasing an additional 555,694 shares during the period. Van ECK Associates Corp lifted its position in 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 valued at $4,715,000 after purchasing an additional 90,992 shares in the last quarter. Palogic Value Management L.P. purchased a new position in BlackRock MuniAssets Fund during the second quarter valued at $292,000. Finally, Bank of America Corp DE bought a new stake in BlackRock MuniAssets Fund during the second quarter valued at about $15,179,000. Institutional investors 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.