BlackRock MuniAssets Fund (NYSE:MUA) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Shares of BlackRock MuniAssets Fund, Inc. (NYSE:MUA) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.92 and traded as low as $10.35. BlackRock MuniAssets Fund shares last traded at $10.40, with a volume of 112,955 shares changing hands.

BlackRock MuniAssets Fund Stock Performance

The stock’s 50 day moving average is $10.94 and its two-hundred day moving average is $10.92.

BlackRock MuniAssets Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be issued a $0.0555 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Monday, June 15th.

Hedge Funds Weigh In On BlackRock MuniAssets Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC acquired a new position in BlackRock MuniAssets Fund in the 4th quarter valued at about $50,000. Bernard Wealth Management Corp. lifted its position in BlackRock MuniAssets Fund by 82.8% during the 3rd quarter. Bernard Wealth Management Corp. now owns 5,300 shares of the investment management company’s stock worth $59,000 after acquiring an additional 2,400 shares during the period. Advisory Services Network LLC acquired a new stake in BlackRock MuniAssets Fund during the 3rd quarter worth approximately $75,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of BlackRock MuniAssets Fund by 212.4% in the 2nd 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. Finally, Nomura Holdings Inc. purchased a new position in shares of BlackRock MuniAssets Fund in the 2nd quarter valued at approximately $104,000. Hedge funds and other institutional investors own 20.38% of the company’s stock.

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.