Closed End Fund Advisors Inc. Invests $1.44 Million in Mfs Muni Inc Tr $MFM

Closed End Fund Advisors Inc. acquired a new position in shares of Mfs Muni Inc Tr (NYSE:MFM) in the 4th quarter, Holdings Channel.com reports. The fund acquired 265,652 shares of the closed-end fund’s stock, valued at approximately $1,442,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MFM. Hennion & Walsh Asset Management Inc. boosted its holdings in Mfs Muni Inc Tr by 29.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 675,044 shares of the closed-end fund’s stock valued at $3,665,000 after purchasing an additional 155,576 shares during the period. Balanced Wealth Group LLC purchased a new position in Mfs Muni Inc Tr in the fourth quarter valued at $1,021,000. UBS Group AG boosted its holdings in Mfs Muni Inc Tr by 3.9% in the third quarter. UBS Group AG now owns 1,140,452 shares of the closed-end fund’s stock valued at $6,147,000 after purchasing an additional 42,723 shares during the period. Van ECK Associates Corp boosted its holdings in Mfs Muni Inc Tr by 7.2% in the third quarter. Van ECK Associates Corp now owns 305,743 shares of the closed-end fund’s stock valued at $1,648,000 after purchasing an additional 20,435 shares during the period. Finally, Colonial Trust Advisors purchased a new position in Mfs Muni Inc Tr in the third quarter valued at $62,000.

Mfs Muni Inc Tr Trading Down 0.5%

NYSE:MFM opened at $5.38 on Friday. The stock has a fifty day moving average price of $5.39 and a 200 day moving average price of $5.42. Mfs Muni Inc Tr has a 12-month low of $5.03 and a 12-month high of $5.67.

Mfs Muni Inc Tr Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.024 per share. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Tuesday, May 19th.

Mfs Muni Inc Tr Company Profile

MFS Municipal Income Trust (NYSE: MFM) is a closed-end management investment company that seeks to provide shareholders with a high level of income exempt from federal income tax. The trust primarily invests in a diversified portfolio of municipal securities, including both general obligation and revenue bonds issued by U.S. states, territories and municipalities. Its shares trade on the New York Stock Exchange, offering investors access to a professionally managed municipal bond portfolio within a single, publicly traded vehicle.

At least 80% of the trust’s total assets are allocated to investment-grade municipal debt, with the flexibility to invest up to 20% in non-investment grade or unrated securities when market conditions warrant.