ProVise Management Group LLC Cuts Holdings in BlackRock Municipal Income Fund, Inc. (NYSE:MUI)

ProVise Management Group LLC lowered its holdings in BlackRock Municipal Income Fund, Inc. (NYSE:MUI) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,809 shares of the company’s stock after selling 1,877 shares during the quarter. ProVise Management Group LLC’s holdings in BlackRock Municipal Income Fund were worth $359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Karpus Management Inc. grew its position in BlackRock Municipal Income Fund by 7.3% in the 3rd quarter. Karpus Management Inc. now owns 10,612,310 shares of the company’s stock worth $107,715,000 after purchasing an additional 723,592 shares during the period. Van ECK Associates Corp lifted its holdings in BlackRock Municipal Income Fund by 10.9% in the fourth quarter. Van ECK Associates Corp now owns 535,712 shares of the company’s stock valued at $6,236,000 after acquiring an additional 52,436 shares during the period. AQR Arbitrage LLC lifted its holdings in BlackRock Municipal Income Fund by 88.2% in the third quarter. AQR Arbitrage LLC now owns 436,976 shares of the company’s stock valued at $4,435,000 after acquiring an additional 204,839 shares during the period. Intellectus Partners LLC boosted its position in BlackRock Municipal Income Fund by 5.3% in the fourth quarter. Intellectus Partners LLC now owns 410,547 shares of the company’s stock worth $4,779,000 after purchasing an additional 20,828 shares during the last quarter. Finally, Robinson Capital Management LLC grew its stake in shares of BlackRock Municipal Income Fund by 26.6% during the 4th quarter. Robinson Capital Management LLC now owns 397,932 shares of the company’s stock valued at $4,640,000 after purchasing an additional 83,659 shares during the period.

BlackRock Municipal Income Fund Price Performance

Shares of NYSE MUI traded up $0.09 during midday trading on Friday, hitting $12.16. 72,375 shares of the company’s stock traded hands, compared to its average volume of 185,991. The firm has a fifty day moving average of $11.87 and a 200 day moving average of $11.65. BlackRock Municipal Income Fund, Inc. has a 1 year low of $9.73 and a 1 year high of $12.29.

BlackRock Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.055 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.66 dividend on an annualized basis and a yield of 5.43%.

BlackRock Municipal Income Fund 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.