Rivernorth Capital Management LLC Has $9.45 Million Position in BlackRock MuniAssets Fund, Inc. $MUA

Rivernorth Capital Management LLC lifted its stake in BlackRock MuniAssets Fund, Inc. (NYSE:MUA) by 177.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 868,104 shares of the investment management company’s stock after buying an additional 555,694 shares during the period. Rivernorth Capital Management LLC’s holdings in BlackRock MuniAssets Fund were worth $9,451,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its position in shares of BlackRock MuniAssets Fund by 3,439.9% during the fourth 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 period. Royal Bank of Canada lifted its position in BlackRock MuniAssets Fund by 89.2% in the first 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 during the period. Absolute Investment Advisers LLC acquired a new stake in BlackRock MuniAssets Fund during the first quarter worth $1,349,000. Kestra Advisory Services LLC acquired a new stake in BlackRock MuniAssets Fund during the fourth quarter worth $50,000. Finally, Bank of New York Mellon Corp bought a new stake in BlackRock MuniAssets Fund in the 2nd quarter valued at $353,000. 20.38% of the stock is currently owned by institutional investors.

BlackRock MuniAssets Fund Stock Performance

Shares of MUA stock opened at $9.93 on Monday. BlackRock MuniAssets Fund, Inc. has a 52-week low of $9.92 and a 52-week high of $11.79. The firm has a fifty day moving average of $10.48 and a 200-day moving average of $10.65.

BlackRock MuniAssets Fund Announces Dividend

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

BlackRock MuniAssets Fund Company Profile

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.