BlackRock MuniAssets Fund (NYSE:MUA) Stock Price Crosses Below 200-Day Moving Average - Should You Sell?

Key Points

• MUA shares fell below their 200-day moving average of $10.42, trading as low as $9.50 and last changing hands at $9.5350.
• The fund announced a monthly dividend of $0.0555, equivalent to approximately $0.67 annually and a 7.0% yield; the ex-dividend date is December 11.
• Institutional ownership stands at 20.38%, with several investment firms increasing their positions or initiating new stakes during recent quarters.

BlackRock MuniAssets Fund, Inc. (NYSE:MUA - Get Free Report) shares passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $10.42 and traded as low as $9.50. BlackRock MuniAssets Fund shares last traded at $9.5350, with a volume of 335,334 shares.

BlackRock MuniAssets Fund Price Performance

The company has a fifty day simple moving average of $9.92 and a two-hundred day simple moving average of $10.42.

BlackRock MuniAssets Fund Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Noble Wealth Management PBC boosted its stake in shares of BlackRock MuniAssets Fund by 34.9% during the third quarter. Noble Wealth Management PBC now owns 120,316 shares of the investment management company's stock valued at $1,149,000 after purchasing an additional 31,113 shares in the last quarter. Doliver Advisors LP bought a new position in BlackRock MuniAssets Fund in the third quarter worth approximately $234,000. Robinson Capital Management LLC lifted its holdings in BlackRock MuniAssets Fund by 42.0% during the second quarter. Robinson Capital Management LLC now owns 183,406 shares of the investment management company's stock worth $2,008,000 after buying an additional 54,283 shares during the period. Readystate Asset Management LP purchased a new stake in BlackRock MuniAssets Fund during the second quarter worth $121,000. Finally, Fortitude Advisory Group L.L.C. lifted its holdings in BlackRock MuniAssets Fund by 7.2% during the second quarter. Fortitude Advisory Group L.L.C. now owns 28,035 shares of the investment management company's stock worth $309,000 after buying an additional 1,872 shares during the period. Hedge funds and other institutional investors own 20.38% of the company's stock.

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.