Eaton Vance Municipal Income Trust (NYSE:EVN) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Eaton Vance Municipal Income Trust (NYSE:EVN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.76 and traded as high as $11.13. Eaton Vance Municipal Income Trust shares last traded at $11.10, with a volume of 42,643 shares trading hands.

Eaton Vance Municipal Income Trust Stock Up 0.5%

The business’s fifty day moving average is $10.70 and its 200-day moving average is $10.76.

Eaton Vance Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Friday, June 12th were given a $0.0513 dividend. The ex-dividend date was Friday, June 12th. This represents a c) annualized dividend and a yield of 5.5%.

Institutional Investors Weigh In On Eaton Vance Municipal Income Trust

A number of hedge funds have recently modified their holdings of EVN. Royal Bank of Canada grew its position in shares of Eaton Vance Municipal Income Trust by 5.1% during the 1st quarter. Royal Bank of Canada now owns 93,673 shares of the investment management company’s stock valued at $961,000 after acquiring an additional 4,582 shares during the period. NewEdge Advisors LLC raised its holdings in Eaton Vance Municipal Income Trust by 12.9% in the 1st quarter. NewEdge Advisors LLC now owns 50,006 shares of the investment management company’s stock worth $513,000 after purchasing an additional 5,711 shares during the period. Baird Financial Group Inc. lifted its position in Eaton Vance Municipal Income Trust by 43.5% during the second quarter. Baird Financial Group Inc. now owns 65,615 shares of the investment management company’s stock valued at $671,000 after purchasing an additional 19,881 shares in the last quarter. StoneX Group Inc. bought a new stake in Eaton Vance Municipal Income Trust during the second quarter valued at about $180,000. Finally, Cary Street Partners Financial LLC bought a new stake in Eaton Vance Municipal Income Trust during the second quarter valued at about $160,000.

About Eaton Vance Municipal Income Trust

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.