Mfs Muni Inc Tr (NYSE:MFM) Share Price Crosses Below 50 Day Moving Average – Should You Sell?
by Tristan Rich · The Markets DailyMfs Muni Inc Tr (NYSE:MFM – Get Free Report) shares crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $5.49 and traded as low as $5.47. Mfs Muni Inc Tr shares last traded at $5.49, with a volume of 22,421 shares trading hands.
Mfs Muni Inc Tr Price Performance
The stock’s fifty day moving average is $5.49 and its two-hundred day moving average is $5.40.
Mfs Muni Inc Tr Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.024 dividend. The ex-dividend date is Tuesday, March 17th. This represents a c) annualized dividend and a dividend yield of 5.3%.
Hedge Funds Weigh In On Mfs Muni Inc Tr
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pathstone Holdings LLC increased its position in Mfs Muni Inc Tr by 46.1% in the 3rd quarter. Pathstone Holdings LLC now owns 3,944,944 shares of the closed-end fund’s stock valued at $21,263,000 after acquiring an additional 1,245,143 shares during the period. Rivernorth Capital Management LLC boosted its position in Mfs Muni Inc Tr by 104.0% during the 4th quarter. Rivernorth Capital Management LLC now owns 810,998 shares of the closed-end fund’s stock worth $4,404,000 after acquiring an additional 413,450 shares during the period. Gridiron Partners LLC grew its stake in shares of Mfs Muni Inc Tr by 2,495.5% in the third quarter. Gridiron Partners LLC now owns 308,165 shares of the closed-end fund’s stock worth $1,661,000 after purchasing an additional 296,292 shares in the last quarter. Closed End Fund Advisors Inc. acquired a new position in shares of Mfs Muni Inc Tr during the fourth quarter valued at $1,442,000. Finally, Advisors Asset Management Inc. raised its stake in shares of Mfs Muni Inc Tr by 27.7% during the fourth quarter. Advisors Asset Management Inc. now owns 1,131,102 shares of the closed-end fund’s stock valued at $6,142,000 after purchasing an additional 245,549 shares in 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.