Eaton Vance Municipal Income Trust (NYSE:EVN) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Eaton Vance Municipal Income Trust (NYSE:EVN) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.80 and traded as high as $10.89. Eaton Vance Municipal Income Trust shares last traded at $10.75, with a volume of 107,320 shares.

Eaton Vance Municipal Income Trust Stock Down 0.6%

The stock’s 50-day moving average price is $10.88 and its 200 day moving average price is $10.80.

Eaton Vance Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, January 26th. Shareholders of record on Wednesday, January 14th will be paid a $0.0513 dividend. This represents a c) annualized dividend and a yield of 5.7%. The ex-dividend date is Wednesday, January 14th.

Hedge Funds Weigh In On Eaton Vance Municipal Income Trust

Hedge funds have recently modified their holdings of the stock. Gridiron Partners LLC increased its position in shares of Eaton Vance Municipal Income Trust by 2,320.0% in the third quarter. Gridiron Partners LLC now owns 924,331 shares of the investment management company’s stock valued at $102,000 after acquiring an additional 886,136 shares during the last quarter. Abel Hall LLC bought a new position in Eaton Vance Municipal Income Trust in the second quarter valued at approximately $102,000. Objective Capital Management LLC acquired a new position in shares of Eaton Vance Municipal Income Trust during the 3rd quarter worth approximately $111,000. PNC Financial Services Group Inc. raised its stake in shares of Eaton Vance Municipal Income Trust by 18.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,613 shares of the investment management company’s stock worth $129,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new stake in shares of Eaton Vance Municipal Income Trust during the 3rd quarter worth approximately $138,000.

Eaton Vance Municipal Income Trust Company Profile

Eaton Vance Municipal Income Trust (NYSE: EVN) is a closed-end management investment company that seeks to provide shareholders with current income exempt from federal income taxes. The trust primarily invests in investment-grade municipal securities issued by U.S. state and local governments, authorities and agencies. By focusing on tax-exempt income, EVN aims to deliver attractive after-tax yields to individual and institutional investors.

The fund’s portfolio is diversified across sectors such as general obligation bonds, revenue bonds, essential service issuers and housing finance agencies.