Bank of New York Mellon Corp Raises Stock Position in BlackRock MuniVest Fund, Inc. (NYSE:MVF)

Bank of New York Mellon Corp lifted its stake in shares of BlackRock MuniVest Fund, Inc. (NYSE:MVF) by 22.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,686 shares of the company’s stock after acquiring an additional 15,150 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.13% of BlackRock MuniVest Fund worth $593,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. increased its holdings in BlackRock MuniVest Fund by 45.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 302,700 shares of the company’s stock valued at $2,155,000 after buying an additional 94,000 shares during the period. Catalytic Wealth RIA LLC acquired a new stake in BlackRock MuniVest Fund in the fourth quarter valued at approximately $175,000. Gridiron Partners LLC acquired a new stake in BlackRock MuniVest Fund in the fourth quarter valued at approximately $3,147,000. Wellspring Financial Advisors LLC boosted its stake in BlackRock MuniVest Fund by 11.3% in the fourth quarter. Wellspring Financial Advisors LLC now owns 50,300 shares of the company’s stock valued at $358,000 after acquiring an additional 5,100 shares in the last quarter. Finally, Karpus Management Inc. boosted its stake in BlackRock MuniVest Fund by 25.8% in the fourth quarter. Karpus Management Inc. now owns 9,253,673 shares of the company’s stock valued at $65,886,000 after acquiring an additional 1,900,630 shares in the last quarter. 48.16% of the stock is owned by hedge funds and other institutional investors.

BlackRock MuniVest Fund Trading Down 1.0 %

NYSE:MVF opened at $7.53 on Tuesday. BlackRock MuniVest Fund, Inc. has a 12 month low of $5.85 and a 12 month high of $7.64. The firm has a fifty day simple moving average of $7.43 and a 200-day simple moving average of $7.18.

BlackRock MuniVest Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be given a dividend of $0.036 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This is an increase from BlackRock MuniVest Fund’s previous monthly dividend of $0.03. This represents a $0.43 dividend on an annualized basis and a yield of 5.74%.

BlackRock MuniVest Fund Company Profile

BlackRock MuniVest 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 the fixed income markets of the United States. It primarily invests in investment grade, long term municipal obligations that are exempt from federal income taxes.