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

Mfs Muni Inc Tr (NYSE:MFM) shares 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 traded.

Mfs Muni Inc Tr Trading Up 0.4%

The firm has a fifty day moving average price of $5.38 and a 200-day moving average price of $5.42.

Mfs Muni Inc Tr Dividend Announcement

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

Institutional Trading of Mfs Muni Inc Tr

Several large investors have recently modified their holdings of MFM. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Mfs Muni Inc Tr during the 4th quarter worth $37,000. Beaumont Financial Advisors LLC acquired a new stake in shares of Mfs Muni Inc Tr during the 4th quarter worth $61,000. Balyasny Asset Management L.P. acquired a new stake in shares of Mfs Muni Inc Tr during the 4th quarter worth $61,000. Colonial Trust Advisors acquired a new stake in shares of Mfs Muni Inc Tr during the 3rd quarter worth $62,000. Finally, Activest Wealth Management acquired a new stake in Mfs Muni Inc Tr in the third quarter valued at about $80,000.

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.