Mfs Muni Inc Tr (NYSE:MFM) Stock Price Passes Above 50 Day Moving Average – What’s Next?

Mfs Muni Inc Tr (NYSE:MFM)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $5.43 and traded as high as $5.44. Mfs Muni Inc Tr shares last traded at $5.42, with a volume of 101,893 shares trading hands.

Mfs Muni Inc Tr Stock Down 0.2%

The stock has a 50 day moving average of $5.43 and a two-hundred day moving average of $5.42.

Mfs Muni Inc Tr Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, April 14th will be paid a $0.024 dividend. The ex-dividend date is Tuesday, April 14th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%.

Institutional Trading of Mfs Muni Inc Tr

Institutional investors have recently modified their holdings of the business. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Mfs Muni Inc Tr in the fourth quarter valued at approximately $37,000. Beaumont Financial Advisors LLC purchased a new stake in shares of Mfs Muni Inc Tr in the fourth quarter valued at approximately $61,000. Balyasny Asset Management L.P. purchased a new stake in shares of Mfs Muni Inc Tr in the fourth quarter valued at approximately $61,000. Colonial Trust Advisors purchased a new stake in shares of Mfs Muni Inc Tr in the third quarter valued at approximately $62,000. Finally, World Investment Advisors purchased a new stake in shares of Mfs Muni Inc Tr in the third quarter valued at approximately $77,000.

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.