Mfs Muni Inc Tr (NYSE:MFM) Sees Large Increase in Short Interest

Mfs Muni Inc Tr (NYSE:MFM) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totaling 270,174 shares, a growth of 439.9% from the May 31st total of 50,040 shares. Based on an average daily volume of 236,451 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.7% of the company’s stock are sold short.

Institutional Trading of Mfs Muni Inc Tr

Several hedge funds have recently added to or reduced their stakes in MFM. NewEdge Advisors LLC lifted its stake in Mfs Muni Inc Tr by 12.2% in the first quarter. NewEdge Advisors LLC now owns 157,811 shares of the closed-end fund’s stock worth $851,000 after acquiring an additional 17,153 shares during the last quarter. Bank of America Corp DE grew its holdings in Mfs Muni Inc Tr by 1.1% during the 1st quarter. Bank of America Corp DE now owns 1,605,668 shares of the closed-end fund’s stock worth $8,655,000 after acquiring an additional 18,174 shares in the last quarter. Rivernorth Capital Management LLC increased its position in shares of Mfs Muni Inc Tr by 12.0% in the 1st quarter. Rivernorth Capital Management LLC now owns 908,050 shares of the closed-end fund’s stock valued at $4,894,000 after purchasing an additional 97,052 shares during the last quarter. Royal Bank of Canada increased its position in shares of Mfs Muni Inc Tr by 23.3% in the 1st quarter. Royal Bank of Canada now owns 128,209 shares of the closed-end fund’s stock valued at $691,000 after purchasing an additional 24,243 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Mfs Muni Inc Tr by 22.4% in the 1st quarter. Cetera Investment Advisers now owns 34,303 shares of the closed-end fund’s stock valued at $185,000 after purchasing an additional 6,268 shares in the last quarter.

Mfs Muni Inc Tr Stock Performance

Shares of NYSE MFM opened at $5.54 on Friday. The stock’s 50-day moving average is $5.43 and its two-hundred day moving average is $5.43. Mfs Muni Inc Tr has a 1-year low of $5.03 and a 1-year high of $5.67.

Mfs Muni Inc Tr Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 29th will be given a dividend of $0.024 per share. The ex-dividend date of this dividend is Monday, June 29th.

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.