Mfs Muni Inc Tr (NYSE:MFM) Short Interest Up 71.7% in May

Mfs Muni Inc Tr (NYSE:MFM) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 63,584 shares, a growth of 71.7% from the April 30th total of 37,027 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 137,593 shares, the days-to-cover ratio is presently 0.5 days.

Mfs Muni Inc Tr Stock Performance

NYSE:MFM opened at $5.38 on Thursday. The business has a 50 day moving average of $5.38 and a 200 day moving average of $5.42. Mfs Muni Inc Tr has a 1-year low of $5.03 and a 1-year high of $5.67.

Mfs Muni Inc Tr Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were given a $0.024 dividend. The ex-dividend date was Tuesday, May 19th. This represents a c) annualized dividend and a yield of 5.4%.

Institutional Trading of Mfs Muni Inc Tr

Several hedge funds and other institutional investors have recently bought and sold shares of MFM. Royal Bank of Canada lifted its position in Mfs Muni Inc Tr by 21.5% in the first quarter. Royal Bank of Canada now owns 55,989 shares of the closed-end fund’s stock valued at $297,000 after purchasing an additional 9,900 shares during the last quarter. NewEdge Advisors LLC lifted its position in Mfs Muni Inc Tr by 35.3% in the first quarter. NewEdge Advisors LLC now owns 77,049 shares of the closed-end fund’s stock valued at $408,000 after purchasing an additional 20,118 shares during the last quarter. Invesco Ltd. lifted its position in Mfs Muni Inc Tr by 32.4% in the second quarter. Invesco Ltd. now owns 423,411 shares of the closed-end fund’s stock valued at $2,189,000 after purchasing an additional 103,601 shares during the last quarter. Baird Financial Group Inc. lifted its position in Mfs Muni Inc Tr by 14.5% in 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 last quarter. Finally, Raymond James Financial Inc. lifted its position in Mfs Muni Inc Tr by 4.4% in the second quarter. Raymond James Financial Inc. now owns 197,612 shares of the closed-end fund’s stock valued at $1,022,000 after purchasing an additional 8,319 shares during the last quarter.

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.