Eaton Vance Municipal Income Trust (NYSE:EVN) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Eaton Vance Municipal Income Trust (NYSE:EVN) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.77 and traded as high as $10.81. Eaton Vance Municipal Income Trust shares last traded at $10.7450, with a volume of 159,132 shares.

Eaton Vance Municipal Income Trust Stock Performance

The business’s 50 day simple moving average is $10.53 and its two-hundred day simple moving average is $10.77.

Eaton Vance Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Thursday, May 14th were paid a dividend of $0.0513 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Thursday, May 14th.

Institutional Trading of Eaton Vance Municipal Income Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Eaton Vance Municipal Income Trust by 17.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 948,250 shares of the investment management company’s stock worth $10,203,000 after purchasing an additional 140,792 shares during the period. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Eaton Vance Municipal Income Trust by 11.1% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 15,000 shares of the investment management company’s stock worth $161,000 after purchasing an additional 1,500 shares during the period. Coquina Private Wealth LLC acquired a new position in shares of Eaton Vance Municipal Income Trust during the fourth quarter worth $143,000. ProVise Management Group LLC lifted its holdings in shares of Eaton Vance Municipal Income Trust by 3.4% during the fourth quarter. ProVise Management Group LLC now owns 101,320 shares of the investment management company’s stock worth $1,090,000 after purchasing an additional 3,372 shares during the period. Finally, InTrack Investment Management Inc lifted its holdings in shares of Eaton Vance Municipal Income Trust by 85.7% during the fourth quarter. InTrack Investment Management Inc now owns 64,991 shares of the investment management company’s stock worth $699,000 after purchasing an additional 29,990 shares during the period.

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.