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

Shares of BlackRock MuniAssets Fund, Inc. (NYSE:MUA) hit a new 52-week low during trading on Tuesday . The stock traded as low as $10.04 and last traded at $10.0350, with a volume of 92819 shares traded. The stock had previously closed at $10.09.

BlackRock MuniAssets Fund Stock Down 0.5%

The stock has a 50 day moving average of $10.61 and a 200 day moving average of $10.72.

BlackRock MuniAssets Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.0555 per share. This represents a c) dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Investors Weigh In On BlackRock MuniAssets Fund

A number of institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new position in BlackRock MuniAssets Fund during the fourth quarter worth $50,000. Hollencrest Capital Management acquired a new position in BlackRock MuniAssets Fund in the first quarter worth $52,000. Northwestern Mutual Wealth Management Co. increased its stake in BlackRock MuniAssets Fund by 212.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,003 shares of the investment management company’s stock valued at $73,000 after purchasing an additional 4,761 shares during the last quarter. Advisory Services Network LLC bought a new stake in BlackRock MuniAssets Fund during the third quarter valued at $75,000. Finally, Fifth Third Bancorp acquired a new stake in shares of BlackRock MuniAssets Fund during the first quarter worth $95,000. 20.38% of the stock is currently owned by institutional investors.

BlackRock MuniAssets Fund Company Profile

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.