BlackRock MuniAssets Fund (NYSE:MUA) Shares Cross Below 200 Day Moving Average - Time to Sell?

Key Points

• BlackRock MuniAssets Fund shares fell below their 200-day moving average of $10.32, reaching as low as $9.47 before last trading at $9.563.
• The fund declared a monthly dividend of $0.0555 per share, equivalent to approximately $0.67 annually and a 7.0% yield.
• Institutional investors and hedge funds own 20.38% of the fund, with several firms increasing their positions or initiating new stakes.

BlackRock MuniAssets Fund, Inc. (NYSE:MUA - Get Free Report)'s share price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $10.32 and traded as low as $9.47. BlackRock MuniAssets Fund shares last traded at $9.5630, with a volume of 336,888 shares trading hands.

BlackRock MuniAssets Fund Trading Up 1.6%

The business has a fifty day moving average price of $9.72 and a two-hundred day moving average price of $10.32.

BlackRock MuniAssets Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a $0.0555 dividend. This represents a $0.67 annualized dividend and a yield of 7.0%. The ex-dividend date is Friday, December 11th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Noble Wealth Management PBC raised its stake in shares of BlackRock MuniAssets Fund by 34.9% in the 3rd quarter. Noble Wealth Management PBC now owns 120,316 shares of the investment management company's stock valued at $1,149,000 after acquiring an additional 31,113 shares during the period. Doliver Advisors LP acquired a new position in shares of BlackRock MuniAssets Fund in the 3rd quarter worth approximately $234,000. Robinson Capital Management LLC boosted its position in shares of BlackRock MuniAssets Fund by 42.0% during the 2nd quarter. Robinson Capital Management LLC now owns 183,406 shares of the investment management company's stock worth $2,008,000 after purchasing an additional 54,283 shares during the period. Readystate Asset Management LP purchased a new position in shares of BlackRock MuniAssets Fund during the 2nd quarter worth approximately $121,000. Finally, Fortitude Advisory Group L.L.C. boosted its position in shares of BlackRock MuniAssets Fund by 7.2% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 28,035 shares of the investment management company's stock worth $309,000 after purchasing an additional 1,872 shares during the period. Institutional investors and hedge funds own 20.38% of the company's stock.

About BlackRock MuniAssets Fund

BlackRock MuniAssets Fund, Inc NYSE: MUA is a closed-end investment company managed by BlackRock Advisors, LLC. The fund's primary objective is to provide current income that is exempt from regular U.S. federal income tax.

The fund invests primarily in municipal bonds and other municipal obligations issued by states, territories, municipalities and governmental authorities in the United States. Its portfolio may include general obligation bonds, revenue bonds and other tax-exempt securities, with the selection of investments focused on supporting the fund's income objective while managing credit and interest-rate risks.

BlackRock MuniAssets Fund is designed for investors seeking tax-exempt income through a professionally managed portfolio of municipal securities.

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