BlackRock MuniAssets Fund, Inc. (NYSE:MUA) Short Interest Down 56.2% in August

Key Points

• Short interest fell 56.2% in August to 826,593 shares, representing 1.7% of outstanding shares and a short-interest ratio of 2.2 days.
• MUA shares declined 0.2% to $9.79, near the 52-week low of $9.71 and below both its 50-day and 200-day moving averages.
• The fund announced a monthly dividend of $0.0555 per share, implying a 6.8% annualized yield; institutional investors own 20.38% of the company.

BlackRock MuniAssets Fund, Inc. (NYSE:MUA - Get Free Report) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 826,593 shares, a decrease of 56.2% from the August 15th total of 1,885,194 shares. Currently, 1.7% of the shares of the company are short sold. Based on an average daily trading volume, of 369,065 shares, the short-interest ratio is presently 2.2 days.

Hedge Funds Weigh In On BlackRock MuniAssets Fund

Large investors have recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new stake in shares of BlackRock MuniAssets Fund during the fourth quarter worth $50,000. Hollencrest Capital Management bought a new position in BlackRock MuniAssets Fund during the first quarter worth about $52,000. Northwestern Mutual Wealth Management Co. increased its position in BlackRock MuniAssets Fund by 212.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,003 shares of the investment management company's stock worth $73,000 after acquiring an additional 4,761 shares during the period. Advisory Services Network LLC acquired a new stake in BlackRock MuniAssets Fund in the 3rd quarter worth about $75,000. Finally, Fifth Third Bancorp bought a new stake in BlackRock MuniAssets Fund in the 1st quarter valued at about $95,000. Institutional investors own 20.38% of the company's stock.

BlackRock MuniAssets Fund Stock Down 0.2%

MUA traded down $0.02 during trading hours on Monday, reaching $9.79. The company's stock had a trading volume of 319,952 shares, compared to its average volume of 160,441. The company's 50-day moving average is $10.28 and its 200-day moving average is $10.56. BlackRock MuniAssets Fund has a 52 week low of $9.71 and a 52 week high of $11.78.

BlackRock MuniAssets Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be paid a dividend of $0.0555 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Friday, December 11th.

BlackRock MuniAssets Fund Company Profile

BlackRock MuniAssets Fund, Inc NYSE: MUA is a closed-end management investment company managed by BlackRock Advisors, LLC. The fund seeks to provide investors with current income that is exempt from regular federal income tax by investing primarily in municipal bonds and other tax-exempt municipal obligations.

The fund's portfolio may include bonds issued by states, cities, counties, municipalities and other public entities across the United States. These securities generally finance public infrastructure and services, such as transportation, utilities, education, healthcare and housing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.