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

Key Points

• BlackRock MuniAssets Fund shares fell to a new 52-week low of $9.97 during Monday trading and last traded near $10.01, below both its 50-day and 200-day moving averages.
• The fund declared a monthly dividend of $0.0555 per share, representing an annualized yield of approximately 6.7%; shareholders of record on September 15 are eligible for the October 1 payment.
• Institutional investors and hedge funds own 20.38% of MUA, with several firms increasing their positions. The closed-end fund invests primarily in investment-grade municipal bonds and seeks federally tax-exempt income.

Shares of BlackRock MuniAssets Fund, Inc. (NYSE:MUA - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $9.97 and last traded at $10.0060, with a volume of 41152 shares. The stock had previously closed at $10.04.

BlackRock MuniAssets Fund Price Performance

The firm has a 50-day moving average of $10.55 and a 200 day moving average of $10.69.

BlackRock MuniAssets Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.0555 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Investors Weigh In On BlackRock MuniAssets Fund

Several institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its position in shares of BlackRock MuniAssets Fund by 2.5% in the second quarter. NewEdge Advisors LLC now owns 50,328 shares of the investment management company's stock worth $523,000 after purchasing an additional 1,217 shares in the last quarter. Fortitude Advisory Group L.L.C. boosted its stake in shares of BlackRock MuniAssets Fund by 7.2% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 28,035 shares of the investment management company's stock valued at $309,000 after buying an additional 1,872 shares during the period. Ashton Thomas Private Wealth LLC boosted its stake in shares of BlackRock MuniAssets Fund by 14.8% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 15,500 shares of the investment management company's stock valued at $166,000 after buying an additional 2,000 shares during the period. Wells Fargo & Company MN grew its holdings in shares of BlackRock MuniAssets Fund by 3.3% during the 4th quarter. Wells Fargo & Company MN now owns 114,743 shares of the investment management company's stock valued at $1,229,000 after acquiring an additional 3,653 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in BlackRock MuniAssets Fund by 3.0% during the fourth quarter. Osaic Holdings Inc. now owns 156,361 shares of the investment management company's stock valued at $1,675,000 after purchasing an additional 4,614 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.

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