Mfs Muni Inc Tr (MFM) to Issue Monthly Dividend of $0.02 on July 31st

Mfs Muni Inc Tr (NYSE:MFM) announced a monthly dividend on Thursday, July 3rd, Wall Street Journal reports. Stockholders of record on Tuesday, July 15th will be paid a dividend of 0.024 per share by the closed-end fund on Thursday, July 31st. This represents a $0.29 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date is Tuesday, July 15th. This is a 9.1% increase from Mfs Muni Inc Tr’s previous monthly dividend of $0.02.

Mfs Muni Inc Tr Stock Performance

Shares of MFM stock opened at $5.08 on Friday. Mfs Muni Inc Tr has a 12 month low of $4.94 and a 12 month high of $5.78. The company’s fifty day moving average price is $5.15 and its 200-day moving average price is $5.27.

Institutional Trading of Mfs Muni Inc Tr

A hedge fund recently raised its stake in Mfs Muni Inc Tr stock. Royal Bank of Canada lifted its stake in Mfs Muni Inc Tr (NYSE:MFM) by 21.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,989 shares of the closed-end fund’s stock after purchasing an additional 9,900 shares during the quarter. Royal Bank of Canada owned 0.11% of Mfs Muni Inc Tr worth $297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Mfs Muni Inc Tr Company Profile

MFS Municipal Income Trust is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets of the United States. It primarily invests in tax-exempt bonds and tax-exempt notes. The fund benchmarks the performance of its portfolio against Barclays Municipal Bond Index.