BlackRock MuniAssets Fund (NYSE:MUA) Share Price Breaks Below 50 Day Moving Average – Time to Sell?

BlackRock MuniAssets Fund, Inc. (NYSE:MUA) shares crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $9.61 and traded as low as $9.55. BlackRock MuniAssets Fund shares last traded at $9.6030, with a volume of 362,173 shares.

BlackRock MuniAssets Fund Stock Down 1.3%

The stock’s fifty day moving average price is $9.61 and its 200-day moving average price is $10.40.

BlackRock MuniAssets Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a $0.0555 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.67 dividend on an annualized basis and a yield of 6.9%.

Institutional Investors Weigh In On BlackRock MuniAssets Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fortitude Advisory Group L.L.C. lifted its position 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 worth $309,000 after buying an additional 1,872 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of BlackRock MuniAssets Fund in the 3rd quarter valued at about $44,000. Hollencrest Capital Management bought a new position in shares of BlackRock MuniAssets Fund in the 1st quarter valued at about $52,000. Janney Montgomery Scott LLC grew its holdings in shares of BlackRock MuniAssets Fund by 63.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,311 shares of the investment management company’s stock valued at $184,000 after acquiring an additional 6,697 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of BlackRock MuniAssets Fund by 31.3% in the 1st quarter. Bank of New York Mellon Corp now owns 28,946 shares of the investment management company’s stock valued at $307,000 after acquiring an additional 6,901 shares in the last quarter. 20.38% of the stock is owned by institutional investors.

About BlackRock MuniAssets Fund

BlackRock MuniAssets Fund, Inc. is a closed-end investment fund managed by BlackRock. Rather than operating a business, it invests in a portfolio of municipal securities issued by U.S. state and local governments and related entities. The fund’s investment objective is to provide a high level of current income that is exempt from regular federal income tax, consistent with its investment policies. Its portfolio primarily comprises municipal obligations, whose proceeds may support public projects and services such as transportation, education, utilities and health care.