BlackRock MuniAssets Fund (NYSE:MUA) Stock Passes Above 50 Day Moving Average – Should You Sell?

BlackRock MuniAssets Fund, Inc. (NYSE:MUA)’s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $10.66 and traded as high as $10.70. BlackRock MuniAssets Fund shares last traded at $10.6750, with a volume of 117,695 shares changing hands.

BlackRock MuniAssets Fund Price Performance

The company has a 50-day moving average price of $10.66 and a 200 day moving average price of $10.79.

BlackRock MuniAssets Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a dividend of $0.0555 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 6.2%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in BlackRock MuniAssets Fund by 21.6% during the 1st quarter. Royal Bank of Canada now owns 102,310 shares of the investment management company’s stock valued at $1,108,000 after buying an additional 18,157 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of BlackRock MuniAssets Fund by 212.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,003 shares of the investment management company’s stock worth $73,000 after buying an additional 4,761 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of BlackRock MuniAssets Fund by 2.5% during the second quarter. NewEdge Advisors LLC now owns 50,328 shares of the investment management company’s stock worth $523,000 after acquiring an additional 1,217 shares during the last quarter. Jane Street Group LLC bought a new position in shares of BlackRock MuniAssets Fund during the second quarter worth $193,000. Finally, Bank of America Corp DE boosted its position in shares of BlackRock MuniAssets Fund by 1.6% during the second quarter. Bank of America Corp DE now owns 1,259,071 shares of the investment management company’s stock worth $13,094,000 after acquiring an additional 20,381 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 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.