MUI stock hits 52-week high at $12.77 amid robust gains

BlackRock (NYSE:BLK) Muni Intermediate Duration Fund Inc. (MUI) stock has reached a 52-week high, touching $12.77, signaling a period of strong performance for the municipal bond-focused closed-end fund. This peak comes as a significant marker for the fund, which has seen an impressive 1-year change, with a 24.31% increase in value. Investors have shown increased confidence in MUI's strategy and portfolio management, as the fund capitalizes on the favorable conditions in the municipal bond market. The 52-week high represents a notable milestone for MUI and underscores the fund's resilience and growth potential in a fluctuating economic landscape.

InvestingPro Insights

BlackRock Muni Intermediate Duration Fund Inc. (MUI) continues to demonstrate strong performance, as evidenced by its recent 52-week high. InvestingPro data reveals that MUI is currently trading at 99.68% of its 52-week high, with a price of $12.63 as of the previous close. This aligns closely with the article's observation of the fund reaching $12.77.

The fund's impressive 1-year total price return of 31.64% surpasses the 24.31% increase mentioned in the article, indicating even stronger performance than initially reported. MUI's year-to-date price total return stands at a solid 13.04%, reflecting continued investor confidence in 2024.

InvestingPro Tips highlight that MUI has maintained dividend payments for 22 consecutive years, a testament to its stability and appeal to income-focused investors. The current dividend yield of 5.23% may be particularly attractive in the current market environment.

It's worth noting that while MUI is trading near its 52-week high, an InvestingPro Tip suggests that the stock generally trades with low price volatility, which may provide some reassurance to risk-averse investors.

For those interested in a deeper analysis, InvestingPro offers 6 additional tips that could provide further insights into MUI's investment potential.

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