BlackRock MuniAssets Fund (NYSE:MUA) Hits New 52-Week Low - Here's Why

Key Points

• BlackRock MuniAssets Fund shares hit a new 52-week low, falling to $9.91 intraday and last trading at $9.93, below its 50-day and 200-day moving averages of $10.48 and $10.65.
• The fund announced a monthly dividend of $0.0555 per share, corresponding to a reported 6.7% annualized yield; shareholders of record on September 15 will receive payment on October 1.
• Institutional investors increased their positions in MUA, with RiverNorth Capital Management raising its holdings by 177.9% and Bank of America increasing its stake by 18.3%; institutions collectively own 20.38% of the fund.

BlackRock MuniAssets Fund, Inc. (NYSE:MUA - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $9.91 and last traded at $9.93, with a volume of 205445 shares. The stock had previously closed at $9.94.

BlackRock MuniAssets Fund Price Performance

The firm's 50-day simple moving average is $10.48 and its 200 day simple moving average is $10.65.

BlackRock MuniAssets Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a $0.0555 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 6.7%.

Institutional Trading of BlackRock MuniAssets Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in MUA. Bank of America Corp DE boosted its holdings in BlackRock MuniAssets Fund by 18.3% during the third quarter. Bank of America Corp DE now owns 1,490,043 shares of the investment management company's stock worth $16,539,000 after buying an additional 230,972 shares in the last quarter. Rivernorth Capital Management LLC increased its holdings in shares of BlackRock MuniAssets Fund by 177.9% in the second quarter. Rivernorth Capital Management LLC now owns 868,104 shares of the investment management company's stock valued at $9,451,000 after buying an additional 555,694 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of BlackRock MuniAssets Fund by 4.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 504,492 shares of the investment management company's stock valued at $5,403,000 after buying an additional 23,151 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of BlackRock MuniAssets Fund by 27.0% in the second quarter. Van ECK Associates Corp now owns 428,231 shares of the investment management company's stock valued at $4,715,000 after buying an additional 90,992 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of BlackRock MuniAssets Fund by 77.8% during the 4th 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 last quarter. 20.38% of the stock is currently owned by institutional investors.

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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