Mfs Muni Inc Tr (NYSE:MFM) Stock Price Passes Below Fifty Day Moving Average – Here’s What Happened

Mfs Muni Inc Tr (NYSE:MFM)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.38 and traded as low as $5.34. Mfs Muni Inc Tr shares last traded at $5.35, with a volume of 277,887 shares trading hands.

Mfs Muni Inc Tr Price Performance

The firm has a 50 day moving average of $5.38 and a two-hundred day moving average of $5.42.

Mfs Muni Inc Tr Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be paid a $0.024 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a c) annualized dividend and a yield of 5.4%.

Institutional Trading of Mfs Muni Inc Tr

Several large investors have recently bought and sold shares of the business. Thomas J. Herzfeld Advisors Inc. boosted its stake in Mfs Muni Inc Tr by 1.5% in the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 137,475 shares of the closed-end fund’s stock valued at $746,000 after buying an additional 2,078 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Mfs Muni Inc Tr by 14.5% in the second quarter. Baird Financial Group Inc. now owns 23,676 shares of the closed-end fund’s stock valued at $122,000 after buying an additional 3,000 shares in the last quarter. HighTower Advisors LLC boosted its stake in Mfs Muni Inc Tr by 17.2% in the fourth quarter. HighTower Advisors LLC now owns 32,427 shares of the closed-end fund’s stock valued at $176,000 after buying an additional 4,759 shares in the last quarter. Balanced Wealth Group LLC boosted its stake in Mfs Muni Inc Tr by 2.6% in the first quarter. Balanced Wealth Group LLC now owns 195,055 shares of the closed-end fund’s stock valued at $1,051,000 after buying an additional 4,883 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in Mfs Muni Inc Tr by 22.4% in the first quarter. Cetera Investment Advisers now owns 34,303 shares of the closed-end fund’s stock valued at $185,000 after buying an additional 6,268 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.