1607 Capital Partners LLC Sells 89,258 Shares of BlackRock MuniVest Fund, Inc. $MVF

1607 Capital Partners LLC reduced its stake in shares of BlackRock MuniVest Fund, Inc. (NYSE:MVF) by 18.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 387,203 shares of the company’s stock after selling 89,258 shares during the period. 1607 Capital Partners LLC owned 0.68% of BlackRock MuniVest Fund worth $2,656,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Geneos Wealth Management Inc. increased its holdings in BlackRock MuniVest Fund by 88.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,728 shares of the company’s stock worth $31,000 after acquiring an additional 2,215 shares in the last quarter. J.W. Cole Advisors Inc. bought a new stake in BlackRock MuniVest Fund during the 2nd quarter worth approximately $94,000. Perennial Investment Advisors LLC purchased a new position in BlackRock MuniVest Fund during the third quarter valued at approximately $103,000. NewEdge Advisors LLC bought a new position in shares of BlackRock MuniVest Fund in the second quarter worth approximately $140,000. Finally, Oppenheimer & Co. Inc. boosted its position in shares of BlackRock MuniVest Fund by 22.3% in the third quarter. Oppenheimer & Co. Inc. now owns 21,924 shares of the company’s stock worth $150,000 after purchasing an additional 4,000 shares during the period. 48.16% of the stock is currently owned by institutional investors.

BlackRock MuniVest Fund Price Performance

Shares of NYSE MVF opened at $7.08 on Friday. BlackRock MuniVest Fund, Inc. has a 1 year low of $6.43 and a 1 year high of $7.36. The firm has a fifty day moving average price of $7.02 and a 200-day moving average price of $6.95.

BlackRock MuniVest Fund Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 6th were issued a $0.036 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a c) annualized dividend and a yield of 6.1%.

BlackRock MuniVest Fund Profile

BlackRock MuniVest Fund, Inc (NYSE: MVF) is an actively managed, closed-end investment company that seeks to provide current income exempt from federal income tax, with a secondary objective of capital appreciation. The Fund primarily invests in investment-grade municipal securities issued by U.S. states, territories, municipalities, agencies and authorities. By focusing on high-quality tax-exempt bonds, the fund aims to deliver a steady stream of federally tax-exempt distributions to its shareholders.

The fund’s portfolio typically includes bonds across a range of maturities and sectors, with an emphasis on intermediate to long-term durations.