BlackRock MuniAssets Fund (NYSE:MUA) Stock Breaks Below 200 Day Moving Average - What's Next?

Key Points

• BlackRock MuniAssets Fund shares fell below their 200-day moving average of $10.36, trading as low as $9.24 and closing near $9.25, down 0.9%.
• The fund declared a monthly dividend of $0.0555 per share, equivalent to approximately $0.67 annually and a 7.2% yield.
• Institutional investors made several changes to their positions, with hedge funds and other institutions collectively owning 20.38% of MUA.

BlackRock MuniAssets Fund, Inc. (NYSE:MUA - Get Free Report)'s stock price passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $10.36 and traded as low as $9.24. BlackRock MuniAssets Fund shares last traded at $9.25, with a volume of 262,471 shares trading hands.

BlackRock MuniAssets Fund Stock Down 0.9%

The business has a 50 day simple moving average of $9.81 and a 200 day simple moving average of $10.36.

BlackRock MuniAssets Fund Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, December 11th. This represents a $0.67 dividend on an annualized basis and a dividend yield of 7.2%.

Hedge Funds Weigh In On BlackRock MuniAssets Fund

Several hedge funds and other institutional investors have recently modified their holdings of MUA. Noble Wealth Management PBC increased its position 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 stake in BlackRock MuniAssets Fund during the 3rd quarter worth about $234,000. Robinson Capital Management LLC lifted its position in 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 acquiring an additional 54,283 shares during the period. Readystate Asset Management LP purchased a new stake in BlackRock MuniAssets Fund during the 2nd quarter valued at about $121,000. Finally, Fortitude Advisory Group L.L.C. grew its stake in 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 valued at $309,000 after purchasing an additional 1,872 shares during the last quarter. 20.38% of the stock is owned by hedge funds and other institutional investors.

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.

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.