BlackRock MuniAssets Fund (NYSE:MUA) Sees Large Volume Increase - Time to Buy?

Key Points

• Unusually high trading volume: About 211,799 shares changed hands (a 122% increase versus the prior session) as the stock traded near $10.49, modestly down 0.3% on the day.
• Monthly dividend announced: The fund will pay $0.0555 per share on July 1 to holders of record June 15, implying an annualized dividend and a 6.3% yield.
• Institutional buying: Several firms (RBC, Northwestern Mutual, NewEdge, Bank of America and newcomer Jane Street) increased or initiated positions, and roughly 20.38% of the shares are held by hedge funds and other institutions.

BlackRock MuniAssets Fund, Inc. (NYSE:MUA - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 211,799 shares traded hands during mid-day trading, an increase of 122% from the previous session's volume of 95,389 shares.The stock last traded at $10.49 and had previously closed at $10.54.

BlackRock MuniAssets Fund Stock Down 0.3%

The firm's 50 day simple moving average is $10.89 and its 200-day simple moving average is $10.86.

BlackRock MuniAssets Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a dividend of $0.0555 per share. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 6.3%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MUA. Royal Bank of Canada increased its holdings in BlackRock MuniAssets Fund by 21.6% in the first quarter. Royal Bank of Canada now owns 102,310 shares of the investment management company's stock valued at $1,108,000 after buying an additional 18,157 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in BlackRock MuniAssets Fund by 212.4% in the second 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 in the last quarter. NewEdge Advisors LLC increased its holdings in 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 valued at $523,000 after buying an additional 1,217 shares in the last quarter. Jane Street Group LLC purchased a new position in BlackRock MuniAssets Fund in the second quarter valued at about $193,000. Finally, Bank of America Corp DE increased its holdings in BlackRock MuniAssets Fund by 1.6% in the second quarter. Bank of America Corp DE now owns 1,259,071 shares of the investment management company's stock valued at $13,094,000 after buying an additional 20,381 shares in the last quarter. 20.38% of the stock is owned by hedge funds and other institutional investors.

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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