BlackRock Municipal Income Fund, Inc. (NYSE:MUI) to Issue $0.06 Monthly Dividend

BlackRock Municipal Income Fund, Inc. (NYSE:MUI) declared a monthly dividend on Friday, November 17th, Wall Street Journal reports. Shareholders of record on Thursday, February 15th will be paid a dividend of 0.055 per share on Friday, March 1st. This represents a $0.66 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date of this dividend is Wednesday, February 14th.

BlackRock Municipal Income Fund Trading Up 0.5 %

MUI stock traded up $0.05 during midday trading on Friday, reaching $10.99. The stock had a trading volume of 292,202 shares, compared to its average volume of 164,372. The company’s fifty day simple moving average is $10.30 and its 200 day simple moving average is $10.94. BlackRock Municipal Income Fund has a 52-week low of $9.73 and a 52-week high of $12.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its holdings in BlackRock Municipal Income Fund by 5.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 21,006 shares of the company’s stock valued at $245,000 after purchasing an additional 1,000 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in shares of BlackRock Municipal Income Fund by 2.4% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 60,015 shares of the company’s stock worth $701,000 after acquiring an additional 1,400 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of BlackRock Municipal Income Fund by 6.3% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 26,724 shares of the company’s stock worth $312,000 after acquiring an additional 1,586 shares during the period. Baird Financial Group Inc. raised its holdings in shares of BlackRock Municipal Income Fund by 3.0% during the 4th quarter. Baird Financial Group Inc. now owns 58,874 shares of the company’s stock worth $667,000 after acquiring an additional 1,690 shares during the period. Finally, Atria Wealth Solutions Inc. raised its holdings in shares of BlackRock Municipal Income Fund by 13.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 15,276 shares of the company’s stock worth $173,000 after acquiring an additional 1,847 shares during the period.

BlackRock Municipal Income Fund Company Profile

BlackRock Muni Intermediate Duration Fund, Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It primarily invests in investment grade municipal bonds exempt from federal income taxes and with a duration of three to ten years at the time of investment.