Mfs Muni Inc Tr (NYSE:MFM) Stock Crosses Below 200 Day Moving Average – Time to Sell?

Mfs Muni Inc Tr (NYSE:MFM) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.45 and traded as low as $5.36. Mfs Muni Inc Tr shares last traded at $5.3650, with a volume of 228,555 shares traded.

Mfs Muni Inc Tr Stock Performance

The firm’s 50 day moving average is $5.49 and its 200-day moving average is $5.45.

Mfs Muni Inc Tr Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, July 23rd were issued a dividend of $0.03 per share. This represents a c) annualized dividend and a dividend yield of 6.6%. The ex-dividend date was Thursday, July 23rd.

Institutional Investors Weigh In On Mfs Muni Inc Tr

Several hedge funds and other institutional investors have recently made changes to their positions in MFM. Royal Bank of Canada boosted its stake in Mfs Muni Inc Tr by 21.5% during the first quarter. Royal Bank of Canada now owns 55,989 shares of the closed-end fund’s stock worth $297,000 after buying an additional 9,900 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Mfs Muni Inc Tr by 35.3% in the 1st quarter. NewEdge Advisors LLC now owns 77,049 shares of the closed-end fund’s stock worth $408,000 after acquiring an additional 20,118 shares during the last quarter. Invesco Ltd. increased its stake in shares of Mfs Muni Inc Tr by 32.4% in the 2nd quarter. Invesco Ltd. now owns 423,411 shares of the closed-end fund’s stock worth $2,189,000 after acquiring an additional 103,601 shares during the last quarter. Baird Financial Group Inc. increased its stake 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 during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Mfs Muni Inc Tr by 4.4% during 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 during the period.

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.