1607 Capital Partners LLC Has $3.59 Million Stake in BlackRock MuniVest Fund, Inc. $MVF

Key Points

• 1607 Capital Partners LLC reduced its stake in BlackRock MuniVest Fund, Inc. by 7.1%, now holding approximately 511,845 shares worth $3,588,000.
• Several other institutional investors increased their holdings, with Sit Investment Associates Inc. growing its stake by 6.5% and Hennion & Walsh Asset Management Inc. boosting its position by 579.2%.
• The BlackRock MuniVest Fund recently declared a monthly dividend of $0.036 per share, yielding 6.6% annually as of the last shareholder record date.

1607 Capital Partners LLC trimmed its holdings in shares of BlackRock MuniVest Fund, Inc. (NYSE:MVF - Free Report) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 511,845 shares of the company's stock after selling 39,268 shares during the period. 1607 Capital Partners LLC owned about 0.85% of BlackRock MuniVest Fund worth $3,588,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in shares of BlackRock MuniVest Fund by 2.4% in the 1st quarter. Royal Bank of Canada now owns 74,834 shares of the company's stock valued at $525,000 after purchasing an additional 1,779 shares during the period. Guggenheim Capital LLC grew its stake 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 valued at $9,257,000 after buying an additional 182,752 shares during the last quarter. Raymond James Financial Inc. boosted its position in BlackRock MuniVest Fund by 13.1% during the 1st quarter. Raymond James Financial Inc. now owns 799,908 shares of the company's stock valued at $5,607,000 after acquiring an additional 92,756 shares in the last quarter. Sit Investment Associates Inc. grew its position in BlackRock MuniVest Fund by 6.5% during the 1st 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 last quarter. Finally, Nuveen LLC purchased a new position in BlackRock MuniVest Fund during the first quarter worth approximately $85,000. 48.16% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniVest Fund Price Performance

Shares of MVF stock traded up $0.10 on Monday, hitting $6.82. The stock had a trading volume of 65,496 shares, compared to its average volume of 108,484. The company's 50 day moving average price is $6.59 and its 200-day moving average price is $6.76. BlackRock MuniVest Fund, Inc. has a 1 year low of $6.43 and a 1 year high of $7.64.

BlackRock MuniVest Fund Dividend Announcement

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

About BlackRock MuniVest Fund

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.