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

Mfs Muni Inc Tr (NYSE:MFM) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $5.40 and traded as high as $5.48. Mfs Muni Inc Tr shares last traded at $5.44, with a volume of 91,817 shares trading hands.

Mfs Muni Inc Tr Stock Up 1.5%

The company has a fifty day moving average of $5.40 and a 200 day moving average of $5.31.

Mfs Muni Inc Tr Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Tuesday, January 20th will be issued a dividend of $0.024 per share. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Tuesday, January 20th.

Hedge Funds Weigh In On Mfs Muni Inc Tr

Institutional investors have recently bought and sold shares of the stock. Baird Financial Group Inc. grew its holdings in Mfs Muni Inc Tr by 14.5% during the second quarter. Baird Financial Group Inc. now owns 23,676 shares of the closed-end fund’s stock valued at $122,000 after purchasing an additional 3,000 shares during the period. Aviance Capital Partners LLC lifted its position in shares of Mfs Muni Inc Tr by 16.0% during the 2nd quarter. Aviance Capital Partners LLC now owns 50,838 shares of the closed-end fund’s stock valued at $263,000 after buying an additional 7,029 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Mfs Muni Inc Tr by 6.4% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 136,422 shares of the closed-end fund’s stock valued at $705,000 after acquiring an additional 8,237 shares during the period. Raymond James Financial Inc. increased its holdings in Mfs Muni Inc Tr by 4.4% in the 2nd quarter. Raymond James Financial Inc. now owns 197,612 shares of the closed-end fund’s stock worth $1,022,000 after acquiring an additional 8,319 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in Mfs Muni Inc Tr by 21.5% in the 1st quarter. Royal Bank of Canada now owns 55,989 shares of the closed-end fund’s stock worth $297,000 after acquiring an additional 9,900 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.