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 business has a 50-day simple moving average of $10.66 and a 200 day simple moving average of $10.79.

BlackRock MuniAssets Fund Dividend Announcement

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

Hedge Funds Weigh In On BlackRock MuniAssets Fund

Several large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in shares of BlackRock MuniAssets Fund by 2.5% in the second quarter. NewEdge Advisors LLC now owns 50,328 shares of the investment management company’s stock worth $523,000 after purchasing an additional 1,217 shares during the period. Ashton Thomas Private Wealth LLC increased its stake in shares of BlackRock MuniAssets Fund by 14.8% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 15,500 shares of the investment management company’s stock worth $166,000 after purchasing an additional 2,000 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of BlackRock MuniAssets Fund by 3.3% during the 4th quarter. Wells Fargo & Company MN now owns 114,743 shares of the investment management company’s stock valued at $1,229,000 after purchasing an additional 3,653 shares during the period. Osaic Holdings Inc. raised its position in shares of BlackRock MuniAssets Fund by 3.0% during the 4th quarter. Osaic Holdings Inc. now owns 156,361 shares of the investment management company’s stock valued at $1,675,000 after purchasing an additional 4,614 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of BlackRock MuniAssets Fund during the 4th quarter valued at $50,000. 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.