Mfs Muni Inc Tr (NYSE:MFM) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Mfs Muni Inc Tr (NYSE:MFM)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $5.40 and traded as high as $5.48. Mfs Muni Inc Tr shares last traded at $5.44, with a volume of 91,817 shares traded.

Mfs Muni Inc Tr Trading Up 1.5%

The firm’s fifty day simple moving average is $5.40 and its 200 day simple moving average is $5.31.

Mfs Muni Inc Tr Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Tuesday, January 20th will be paid a $0.024 dividend. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a c) dividend on an annualized basis and a yield of 5.3%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its position in Mfs Muni Inc Tr by 21.5% in the first quarter. Royal Bank of Canada now owns 55,989 shares of the closed-end fund’s stock worth $297,000 after purchasing an additional 9,900 shares during the last quarter. NewEdge Advisors LLC lifted its position in Mfs Muni Inc Tr by 35.3% during the first quarter. NewEdge Advisors LLC now owns 77,049 shares of the closed-end fund’s stock valued at $408,000 after purchasing an additional 20,118 shares during the last quarter. Catalina Capital Group LLC purchased a new position in shares of Mfs Muni Inc Tr in the 2nd quarter worth $206,000. Wolverine Asset Management LLC increased its holdings in shares of Mfs Muni Inc Tr by 175.7% in the 2nd quarter. Wolverine Asset Management LLC now owns 58,588 shares of the closed-end fund’s stock worth $303,000 after buying an additional 37,338 shares during the last quarter. Finally, Aviance Capital Partners LLC raised its position in shares of Mfs Muni Inc Tr by 16.0% during the 2nd quarter. Aviance Capital Partners LLC now owns 50,838 shares of the closed-end fund’s stock valued at $263,000 after buying an additional 7,029 shares in the last quarter.

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.