AQR Arbitrage LLC Trims Stake in BlackRock MuniVest Fund, Inc. $MVF

Key Points

• AQR Arbitrage LLC has significantly reduced its stake in BlackRock MuniVest Fund, Inc. (MVF) by 59.9% during the first quarter, dropping its ownership to 50,077 shares, valued at approximately $351,000.
• In contrast, Sit Investment Associates Inc. and Hennion & Walsh Asset Management Inc. both increased their positions in the fund, with Hennion & Walsh raising its stake by an impressive 579.2%.
• BlackRock MuniVest Fund recently announced a monthly dividend of $0.036 per share, translating to an annualized yield of 6.5%, with the ex-dividend date set for September 15th.

AQR Arbitrage LLC decreased its position in shares of BlackRock MuniVest Fund, Inc. (NYSE:MVF - Free Report) by 59.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,077 shares of the company's stock after selling 74,768 shares during the quarter. AQR Arbitrage LLC owned 0.08% of BlackRock MuniVest Fund worth $351,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of BlackRock MuniVest Fund by 2.4% during the first quarter. Royal Bank of Canada now owns 74,834 shares of the company's stock worth $525,000 after purchasing an additional 1,779 shares during the period. Guggenheim Capital LLC lifted its holdings in shares of BlackRock MuniVest Fund by 16.1% during the first quarter. Guggenheim Capital LLC now owns 1,320,597 shares of the company's stock worth $9,257,000 after purchasing an additional 182,752 shares during the period. Raymond James Financial Inc. lifted its holdings in shares of BlackRock MuniVest Fund by 13.1% during the first quarter. Raymond James Financial Inc. now owns 799,908 shares of the company's stock worth $5,607,000 after purchasing an additional 92,756 shares during the period. Sit Investment Associates Inc. lifted its holdings in shares of BlackRock MuniVest Fund by 6.5% during the first quarter. Sit Investment Associates Inc. now owns 1,043,379 shares of the company's stock worth $7,314,000 after purchasing an additional 63,749 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of BlackRock MuniVest Fund during the first quarter worth about $85,000. Institutional investors and hedge funds own 48.16% of the company's stock.

BlackRock MuniVest Fund Trading Down 0.1%

Shares of BlackRock MuniVest Fund stock traded down $0.01 on Tuesday, reaching $6.84. 45,222 shares of the stock were exchanged, compared to its average volume of 108,473. The business has a 50 day moving average price of $6.59 and a two-hundred day moving average price of $6.76. BlackRock MuniVest Fund, Inc. has a twelve month low of $6.43 and a twelve month high of $7.64.

BlackRock MuniVest Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.036 per share. This represents a c) annualized dividend and a yield of 6.3%. The ex-dividend date is Monday, September 15th.

BlackRock MuniVest Fund Profile

BlackRock MuniVest Fund, Inc is a closed-ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in the fixed income markets of the United States. It primarily invests in investment grade, long term municipal obligations that are exempt from federal income taxes.