Mfs Muni Inc Tr (NYSE:MFM) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

Mfs Muni Inc Tr (NYSE:MFM) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $5.42 and traded as high as $5.52. Mfs Muni Inc Tr shares last traded at $5.4920, with a volume of 273,780 shares trading hands.

Mfs Muni Inc Tr Price Performance

The firm has a 50-day moving average price of $5.42 and a 200 day moving average price of $5.42.

Mfs Muni Inc Tr Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be given a $0.03 dividend. This represents a c) annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Tuesday, June 23rd. This is a positive change from Mfs Muni Inc Tr’s previous monthly dividend of $0.02.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Thomas J. Herzfeld Advisors Inc. grew its position in shares of Mfs Muni Inc Tr by 1.5% in the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 137,475 shares of the closed-end fund’s stock worth $746,000 after acquiring an additional 2,078 shares in the last quarter. Baird Financial Group Inc. grew its position in shares of Mfs Muni Inc Tr by 14.5% in the 2nd quarter. Baird Financial Group Inc. now owns 23,676 shares of the closed-end fund’s stock worth $122,000 after acquiring an additional 3,000 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Mfs Muni Inc Tr by 17.2% in the 4th quarter. HighTower Advisors LLC now owns 32,427 shares of the closed-end fund’s stock worth $176,000 after acquiring an additional 4,759 shares in the last quarter. Balanced Wealth Group LLC grew its position in shares of Mfs Muni Inc Tr by 2.6% in the 1st quarter. Balanced Wealth Group LLC now owns 195,055 shares of the closed-end fund’s stock worth $1,051,000 after acquiring an additional 4,883 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Mfs Muni Inc Tr by 22.4% in the 1st quarter. Cetera Investment Advisers now owns 34,303 shares of the closed-end fund’s stock worth $185,000 after acquiring an additional 6,268 shares in the last quarter.

About Mfs Muni Inc Tr

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.