BlackRock MuniAssets Fund (NYSE:MUA) Share Price Passes Below 200-Day Moving Average - Here's Why

Key Points

• BlackRock MuniAssets Fund (MUA) crossed below its 200-day moving average, with the 200‑day MA at $10.82 and the stock trading as low as $10.51 and last at $10.535 (volume 122,880).
• The fund declared a monthly dividend of $0.0555 per share, payable July 1 to holders of record June 15 (ex-dividend date June 15), implying roughly a 6.3% annualized yield.
• Institutional investors have been active buyers—Hennion & Walsh, Northwestern Mutual and Bank of America notably increased stakes—and about 20.38% of the stock is owned by institutions and hedge funds.

BlackRock MuniAssets Fund, Inc. (NYSE:MUA - Get Free Report)'s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.82 and traded as low as $10.51. BlackRock MuniAssets Fund shares last traded at $10.5350, with a volume of 122,880 shares.

BlackRock MuniAssets Fund Stock Performance

The business has a 50 day moving average of $10.74 and a 200 day moving average of $10.82.

BlackRock MuniAssets Fund Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MUA. Hennion & Walsh Asset Management Inc. grew its stake in BlackRock MuniAssets Fund by 129.2% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 752,019 shares of the investment management company's stock valued at $8,347,000 after acquiring an additional 423,899 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in BlackRock MuniAssets Fund by 3,439.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 247,897 shares of the investment management company's stock valued at $2,655,000 after acquiring an additional 240,894 shares during the period. Bank of America Corp DE grew its stake in BlackRock MuniAssets Fund by 18.3% in the third quarter. Bank of America Corp DE now owns 1,490,043 shares of the investment management company's stock valued at $16,539,000 after acquiring an additional 230,972 shares during the period. Rivernorth Capital Management LLC acquired a new position in BlackRock MuniAssets Fund in the fourth quarter valued at about $2,210,000. Finally, Advisors Asset Management Inc. grew its stake in BlackRock MuniAssets Fund by 77.8% in the fourth quarter. Advisors Asset Management Inc. now owns 384,686 shares of the investment management company's stock valued at $4,120,000 after acquiring an additional 168,356 shares during the period. 20.38% of the stock is 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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