BlackRock MuniAssets Fund (NYSE:MUA) Sees Unusually-High Trading Volume – Here’s Why

Shares of BlackRock MuniAssets Fund, Inc. (NYSE:MUA) saw strong trading volume on Tuesday . Approximately 186,013 shares changed hands during trading, an increase of 32% from the previous session’s volume of 140,541 shares.The stock last traded at $9.94 and had previously closed at $10.04.

BlackRock MuniAssets Fund Trading Down 0.2%

The stock’s fifty day simple moving average is $10.51 and its two-hundred day simple moving average is $10.67.

BlackRock MuniAssets Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a dividend of $0.0555 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 6.7%.

Hedge Funds Weigh In On BlackRock MuniAssets Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE bought a new position in shares of BlackRock MuniAssets Fund during the second quarter worth about $15,179,000. Rivernorth Capital Management LLC increased its holdings in shares of BlackRock MuniAssets Fund by 177.9% in the 2nd quarter. Rivernorth Capital Management LLC now owns 868,104 shares of the investment management company’s stock worth $9,451,000 after acquiring an additional 555,694 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in BlackRock MuniAssets Fund by 3,439.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 247,897 shares of the investment management company’s stock valued at $2,655,000 after purchasing an additional 240,894 shares during the last quarter. Advisors Asset Management Inc. lifted its position in BlackRock MuniAssets Fund by 77.8% in the 4th quarter. Advisors Asset Management Inc. now owns 384,686 shares of the investment management company’s stock valued at $4,120,000 after purchasing an additional 168,356 shares during the last quarter. Finally, Absolute Investment Advisers LLC bought a new stake in BlackRock MuniAssets Fund in the 1st quarter valued at about $1,349,000. 20.38% of the stock is currently owned by institutional investors and hedge funds.

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.