Mfs Muni Inc Tr (NYSE:MFM) Shares Pass Above Fifty Day Moving Average – Here’s Why

Mfs Muni Inc Tr (NYSE:MFM) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.39 and traded as high as $5.40. Mfs Muni Inc Tr shares last traded at $5.3850, with a volume of 184,527 shares.

Mfs Muni Inc Tr Price Performance

The firm has a 50-day simple moving average of $5.39 and a two-hundred day simple moving average of $5.27.

Mfs Muni Inc Tr Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were issued a $0.024 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Tuesday, December 16th.

Institutional Investors Weigh In On Mfs Muni Inc Tr

Several large investors have recently modified their holdings of MFM. Royal Bank of Canada raised its stake in shares of Mfs Muni Inc Tr by 21.5% during the 1st quarter. Royal Bank of Canada now owns 55,989 shares of the closed-end fund’s stock worth $297,000 after buying an additional 9,900 shares in the last quarter. NewEdge Advisors LLC raised its position in Mfs Muni Inc Tr by 35.3% in the first quarter. NewEdge Advisors LLC now owns 77,049 shares of the closed-end fund’s stock worth $408,000 after acquiring an additional 20,118 shares in the last quarter. Riverbridge Partners LLC lifted its holdings in Mfs Muni Inc Tr by 4.0% in the second quarter. Riverbridge Partners LLC now owns 69,259 shares of the closed-end fund’s stock valued at $358,000 after acquiring an additional 2,677 shares during the period. Catalina Capital Group LLC purchased a new stake in shares of Mfs Muni Inc Tr during the 2nd quarter worth $206,000. Finally, Wolverine Asset Management LLC boosted its position in shares of Mfs Muni Inc Tr by 175.7% during the 2nd quarter. Wolverine Asset Management LLC now owns 58,588 shares of the closed-end fund’s stock worth $303,000 after purchasing an additional 37,338 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.