1607 Capital Partners LLC Reduces Stock Position 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 cut its stake in shares of BlackRock MuniVest Fund, Inc. (NYSE:MVF - Free Report) by 7.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 511,845 shares of the company's stock after selling 39,268 shares during the quarter. 1607 Capital Partners LLC owned about 0.85% of BlackRock MuniVest Fund worth $3,588,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nuveen LLC purchased a new stake in shares of BlackRock MuniVest Fund during the first quarter valued at $85,000. Ackerman Capital Advisors LLC purchased a new position in BlackRock MuniVest Fund in the first quarter worth about $107,000. Oppenheimer & Co. Inc. purchased a new position in BlackRock MuniVest Fund in the first quarter worth about $109,000. Ameriprise Financial Inc. purchased a new position in BlackRock MuniVest Fund in the fourth quarter worth about $103,000. Finally, Northern Trust Corp purchased a new position in BlackRock MuniVest Fund in the fourth quarter worth about $147,000. 48.16% of the stock is currently owned by institutional investors.

BlackRock MuniVest Fund Trading Up 1.5%

NYSE:MVF traded up $0.10 on Friday, hitting $6.73. The stock had a trading volume of 139,025 shares, compared to its average volume of 108,027. The business's 50-day simple moving average is $6.59 and its two-hundred day simple moving average is $6.77. BlackRock MuniVest Fund, Inc. has a 52-week low of $6.43 and a 52-week high of $7.64.

BlackRock MuniVest Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.036 per share. This represents a c) annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Monday, September 15th.

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.