BlackRock MuniAssets Fund, Inc. $MUA Shares Newly Acquired by Professional Financial Management Inc.

Professional Financial Management Inc. acquired a new stake in BlackRock MuniAssets Fund, Inc. (NYSE:MUA) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 84,138 shares of the investment management company’s stock, valued at approximately $804,000. BlackRock MuniAssets Fund makes up about 0.8% of Professional Financial Management Inc.’s holdings, making the stock its 20th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rivernorth Capital Management LLC raised its stake in BlackRock MuniAssets Fund by 177.9% during the second quarter. Rivernorth Capital Management LLC now owns 868,104 shares of the investment management company’s stock valued at $9,451,000 after buying an additional 555,694 shares in the last quarter. Bank of America Corp DE bought a new position in BlackRock MuniAssets Fund during the 2nd quarter worth approximately $15,179,000. Robinson Capital Management LLC grew its position in shares of BlackRock MuniAssets Fund by 42.0% in the 2nd quarter. Robinson Capital Management LLC now owns 183,406 shares of the investment management company’s stock worth $2,008,000 after acquiring an additional 54,283 shares in the last quarter. Van ECK Associates Corp grew its position in shares of BlackRock MuniAssets Fund by 27.0% in the 2nd quarter. Van ECK Associates Corp now owns 428,231 shares of the investment management company’s stock worth $4,715,000 after acquiring an additional 90,992 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of 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 acquiring an additional 81,069 shares in the last quarter. 20.38% of the stock is owned by institutional investors.

BlackRock MuniAssets Fund Trading Up 1.2%

Shares of NYSE MUA opened at $9.70 on Friday. BlackRock MuniAssets Fund, Inc. has a twelve month low of $9.13 and a twelve month high of $11.26. The business has a 50 day simple moving average of $9.69 and a 200-day simple moving average of $10.31.

BlackRock MuniAssets Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be paid a dividend of $0.0555 per share. The ex-dividend date is Friday, December 11th. This represents a $0.67 annualized dividend and a yield of 6.9%.

BlackRock MuniAssets Fund Profile

BlackRock MuniAssets Fund, Inc is a closed-end investment fund listed on the New York Stock Exchange under the symbol MUA. The fund seeks to provide current income that is exempt from regular U.S. federal income taxes by investing primarily in municipal obligations.

The fund invests in debt securities issued by or on behalf of states, territories, and possessions of the United States, as well as their political subdivisions, agencies, and instrumentalities. Its portfolio may include municipal bonds and other municipal-related securities, with holdings selected based on factors such as credit quality, maturity, structure, and income potential.

BlackRock MuniAssets Fund is managed by BlackRock Advisors, LLC, an affiliate of BlackRock, Inc As a U.S.-focused municipal bond fund, its investments are generally tied to public-sector financing across a range of state and local governments and related authorities.