BlackRock MuniAssets Fund (NYSE:MUA) Sees Strong Trading Volume - Time to Buy?

Key Points

• Trading volume increased 5% to approximately 122,036 shares, while MUA traded at $10.299, below its prior close of $10.51 and its 50-day and 200-day moving averages.
• The fund declared a monthly dividend of $0.0555 per share, payable October 1 to shareholders of record September 15, implying an annualized yield of about 6.5%.
• Institutional and hedge-fund ownership stands at 20.38%, with several major investors increasing their stakes; MUA primarily invests in diversified, investment-grade municipal bonds designed to generate federally tax-exempt income.

BlackRock MuniAssets Fund, Inc. (NYSE:MUA - Get Free Report) saw strong trading volume on Tuesday . Approximately 122,036 shares were traded during mid-day trading, an increase of 5% from the previous session's volume of 115,947 shares.The stock last traded at $10.2990 and had previously closed at $10.51.

BlackRock MuniAssets Fund Stock Performance

The company has a 50 day moving average price of $10.74 and a two-hundred day moving average price of $10.80.

BlackRock MuniAssets Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $0.0555 dividend. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Tuesday, September 15th.

Hedge Funds Weigh In On BlackRock MuniAssets Fund

A number of large investors have recently added to or reduced their stakes in MUA. Hennion & Walsh Asset Management Inc. increased its stake in shares of BlackRock MuniAssets Fund by 29.9% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 976,962 shares of the investment management company's stock worth $10,463,000 after purchasing an additional 224,943 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of BlackRock MuniAssets Fund by 3,439.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 247,897 shares of the investment management company's stock worth $2,655,000 after purchasing an additional 240,894 shares during the last quarter. Absolute Investment Advisers LLC purchased a new position in BlackRock MuniAssets Fund in the 1st quarter valued at about $1,349,000. Fifth Third Bancorp acquired a new stake in BlackRock MuniAssets Fund in the 1st quarter worth about $95,000. Finally, Royal Bank of Canada increased its stake in BlackRock MuniAssets Fund by 89.2% during the 1st quarter. Royal Bank of Canada now owns 171,937 shares of the investment management company's stock worth $1,824,000 after buying an additional 81,069 shares in the last quarter. 20.38% of the stock is currently owned by institutional investors and hedge funds.

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.

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