BlackRock MuniAssets Fund (NYSE:MUA) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Shares of BlackRock MuniAssets Fund, Inc. (NYSE:MUA) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $10.36 and traded as low as $9.24. BlackRock MuniAssets Fund shares last traded at $9.25, with a volume of 262,471 shares changing hands.

BlackRock MuniAssets Fund Price Performance

The business’s 50-day simple moving average is $9.79 and its 200-day simple moving average is $10.36.

BlackRock MuniAssets Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be paid a $0.0555 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.67 annualized dividend and a dividend yield of 7.1%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MUA. Fortitude Advisory Group L.L.C. lifted its stake in BlackRock MuniAssets Fund by 7.2% in the second quarter. Fortitude Advisory Group L.L.C. now owns 28,035 shares of the investment management company’s stock worth $309,000 after acquiring an additional 1,872 shares during the period. Hollencrest Capital Management purchased a new position in BlackRock MuniAssets Fund during the 1st quarter valued at $52,000. Janney Montgomery Scott LLC increased its position in BlackRock MuniAssets Fund by 63.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,311 shares of the investment management company’s stock valued at $184,000 after purchasing an additional 6,697 shares during the period. Bank of New York Mellon Corp increased its position in BlackRock MuniAssets Fund by 31.3% during the 1st quarter. Bank of New York Mellon Corp now owns 28,946 shares of the investment management company’s stock valued at $307,000 after purchasing an additional 6,901 shares during the period. Finally, Fifth Third Bancorp bought a new position in BlackRock MuniAssets Fund in the 1st quarter worth $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 investment company managed by BlackRock Advisors, LLC. The fund’s primary objective is to provide current income that is exempt from regular U.S. federal income tax.

The fund invests primarily in municipal bonds and other municipal obligations issued by states, territories, municipalities and governmental authorities in the United States. Its portfolio may include general obligation bonds, revenue bonds and other tax-exempt securities, with the selection of investments focused on supporting the fund’s income objective while managing credit and interest-rate risks.

BlackRock MuniAssets Fund is designed for investors seeking tax-exempt income through a professionally managed portfolio of municipal securities.