BlackRock MuniAssets Fund (NYSE:MUA) Sees Large Volume Increase – Time to Buy?

BlackRock MuniAssets Fund, Inc. (NYSE:MUA) shares saw an uptick in trading volume on Tuesday . 122,036 shares traded hands during mid-day trading, an increase of 5% from the previous session’s volume of 115,947 shares.The stock last traded at $10.2990 and had previously closed at $10.51.

BlackRock MuniAssets Fund Stock Performance

The company has a 50-day moving average of $10.74 and a 200 day moving average of $10.80.

BlackRock MuniAssets Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.0555 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%.

Hedge Funds Weigh In On BlackRock MuniAssets Fund

Several hedge funds and other institutional investors have recently modified their holdings of MUA. NewEdge Advisors LLC grew its stake in BlackRock MuniAssets Fund by 60.1% during the 1st quarter. NewEdge Advisors LLC now owns 115,299 shares of the investment management company’s stock valued at $1,223,000 after acquiring an additional 43,293 shares in the last quarter. Rivernorth Capital Management LLC lifted its stake in BlackRock MuniAssets Fund by 51.4% in the 1st quarter. Rivernorth Capital Management LLC now owns 312,410 shares of the investment management company’s stock worth $3,315,000 after purchasing an additional 106,043 shares in the last quarter. Royal Bank of Canada lifted its stake in BlackRock MuniAssets Fund by 89.2% in the 1st quarter. Royal Bank of Canada now owns 171,937 shares of the investment management company’s stock worth $1,824,000 after purchasing an additional 81,069 shares in the last quarter. Wealth Alliance LLC boosted its holdings in shares of BlackRock MuniAssets Fund by 42.7% during the 1st quarter. Wealth Alliance LLC now owns 90,736 shares of the investment management company’s stock worth $963,000 after purchasing an additional 27,129 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of BlackRock MuniAssets Fund by 8.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 280,957 shares of the investment management company’s stock worth $2,981,000 after purchasing an additional 22,632 shares during the last quarter. 20.38% of the stock is owned by hedge funds and other institutional investors.

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.