Raymond James & Associates Sells 1,976 Shares of BlackRock Municipal Income Fund, Inc. (NYSE:MUI)

Raymond James & Associates reduced its position in shares of BlackRock Municipal Income Fund, Inc. (NYSE:MUI) by 1.5% in the second quarter, Holdings Channel reports. The fund owned 129,561 shares of the company’s stock after selling 1,976 shares during the quarter. Raymond James & Associates’ holdings in BlackRock Municipal Income Fund were worth $1,599,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Bell Private Wealth Management LLC boosted its position in shares of BlackRock Municipal Income Fund by 736.3% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 8,363 shares of the company’s stock valued at $101,000 after acquiring an additional 7,363 shares during the last quarter. Cetera Advisors LLC purchased a new stake in BlackRock Municipal Income Fund during the 1st quarter valued at $145,000. Janney Montgomery Scott LLC raised its holdings in BlackRock Municipal Income Fund by 7.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,817 shares of the company’s stock valued at $179,000 after buying an additional 1,036 shares during the period. Oppenheimer & Co. Inc. increased its stake in BlackRock Municipal Income Fund by 21.7% in the first quarter. Oppenheimer & Co. Inc. now owns 14,912 shares of the company’s stock worth $180,000 after purchasing an additional 2,662 shares during the period. Finally, Park Avenue Securities LLC increased its stake in BlackRock Municipal Income Fund by 13.7% in the first quarter. Park Avenue Securities LLC now owns 16,859 shares of the company’s stock worth $203,000 after purchasing an additional 2,030 shares during the period.

BlackRock Municipal Income Fund Stock Performance

Shares of BlackRock Municipal Income Fund stock opened at $12.46 on Thursday. BlackRock Municipal Income Fund, Inc. has a 12 month low of $9.73 and a 12 month high of $12.58. The stock’s fifty day moving average price is $12.38 and its 200-day moving average price is $12.10.

BlackRock Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a dividend of $0.055 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.66 annualized dividend and a dividend yield of 5.30%.

About BlackRock Municipal Income Fund

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.