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

Mfs Muni Inc Tr (NYSE:MFM)’s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.42 and traded as high as $5.52. Mfs Muni Inc Tr shares last traded at $5.4920, with a volume of 273,780 shares trading hands.

Mfs Muni Inc Tr Trading Down 0.1%

The firm has a fifty day moving average of $5.42 and a 200 day moving average of $5.42.

Mfs Muni Inc Tr Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be paid a dividend of $0.03 per share. This is a boost from Mfs Muni Inc Tr’s previous monthly dividend of $0.02. The ex-dividend date is Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a yield of 6.6%.

Institutional Investors Weigh In On Mfs Muni Inc Tr

Hedge funds have recently bought and sold shares of the business. Garton & Associates Financial Advisors LLC acquired a new stake in Mfs Muni Inc Tr during the 4th quarter valued at approximately $37,000. Beaumont Financial Advisors LLC acquired a new stake in Mfs Muni Inc Tr during the 4th quarter valued at approximately $61,000. Balyasny Asset Management L.P. acquired a new stake in Mfs Muni Inc Tr during the 4th quarter valued at approximately $61,000. Colonial Trust Advisors acquired a new stake in Mfs Muni Inc Tr during the 3rd quarter valued at approximately $62,000. Finally, Jane Street Group LLC acquired a new stake in Mfs Muni Inc Tr during the 2nd quarter valued at approximately $96,000.

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.