Mfs Muni Inc Tr (NYSE:MFM) Short Interest Update

Mfs Muni Inc Tr (NYSE:MFM) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 109,125 shares, a growth of 123.2% from the August 15th total of 48,886 shares. Based on an average daily volume of 221,650 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.3% of the company’s stock are short sold.

Mfs Muni Inc Tr Trading Down 0.4%

Shares of NYSE MFM opened at $5.11 on Wednesday. Mfs Muni Inc Tr has a 1 year low of $5.09 and a 1 year high of $5.67. The company has a 50-day moving average price of $5.39 and a 200-day moving average price of $5.42.

Mfs Muni Inc Tr Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a c) annualized dividend and a dividend yield of 7.0%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in Mfs Muni Inc Tr by 1.1% during the 1st quarter. Bank of America Corp DE now owns 1,605,668 shares of the closed-end fund’s stock valued at $8,655,000 after acquiring an additional 18,174 shares in the last quarter. UBS Group AG lifted its position in shares of Mfs Muni Inc Tr by 2.2% during the fourth quarter. UBS Group AG now owns 1,165,389 shares of the closed-end fund’s stock valued at $6,328,000 after purchasing an additional 24,937 shares in the last quarter. Robinson Capital Management LLC lifted its position in shares of Mfs Muni Inc Tr by 501.1% during the second quarter. Robinson Capital Management LLC now owns 1,076,957 shares of the closed-end fund’s stock valued at $6,052,000 after purchasing an additional 897,784 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Mfs Muni Inc Tr by 28.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,024,569 shares of the closed-end fund’s stock worth $5,758,000 after purchasing an additional 224,810 shares during the last quarter. Finally, Rivernorth Capital Management LLC boosted its holdings in Mfs Muni Inc Tr by 12.0% during the first quarter. Rivernorth Capital Management LLC now owns 908,050 shares of the closed-end fund’s stock worth $4,894,000 after purchasing an additional 97,052 shares during the last quarter.

Mfs Muni Inc Tr Company Profile

MFS Municipal Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol MFM. The fund seeks to provide current income that is exempt from federal income tax by investing primarily in municipal bonds and other municipal securities.

The trust’s portfolio may include obligations issued by states, municipalities and other governmental entities, as well as securities issued to finance public infrastructure and essential services. Its investments generally span municipal issuers across the United States, with portfolio composition and geographic exposure changing over time based on market conditions and the fund’s investment strategy.

MFS Municipal Income Trust is managed by MFS Investment Management, an investment management firm that provides portfolio management and related services to mutual funds, closed-end funds and other institutional and individual investors.