MFS Municipal Income Trust (NYSE: MFM) Brief Interest Update

MFS Municipal Income Trust (NYSE:MFM – Get Rating) was the target of a sharp drop in short-term interest rates in July. As of July 31, there was short interest totaling 41,000 shares, down 23.9% from the July 15 total of 53,900 shares. Based on an average daily volume of 148,500 shares, the day-to-cover ratio is currently 0.3 days.

MFS Municipal Income Trust Price Performance

Shares of MFS Municipal Income Trust traded down $0.03 on Friday, hitting $5.85. 52,351 shares of the company were traded, against an average volume of 103,157. The MFS Municipal Income Trust has a 52-week low of $5.02 and a 52-week high of $7.34. The company’s 50-day moving average is $5.56 and its two-hundred-day moving average is $5.87.

MFS Municipal Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, August 31. Shareholders of record on Wednesday August 17 will receive a dividend of $0.0205 per share. This represents a dividend of $0.25 on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Tuesday, August 16.

Hedge funds weigh on MFS Municipal Income Trust

A number of institutional investors and hedge funds have recently changed their holdings in the company. Advisors Asset Management Inc. increased its holdings of MFS Municipal Income Trust shares by 33.6% during the 1st quarter. Advisors Asset Management Inc. now owns 607,541 shares of the closed-end fund worth $3,718,000 after purchasing an additional 152,721 shares in the last quarter. Robinson Capital Management LLC increased its holdings of MFS Municipal Income Trust shares by 141.4% during the second quarter. Robinson Capital Management LLC now owns 518,811 shares of the closed-end fund worth $2,923,000 after purchasing an additional 303,861 shares in the last quarter. Bank of America Corp DE increased its holdings of MFS Municipal Income Trust shares by 336.5% during the 1st quarter. Bank of America Corp DE now owns 375,808 shares of the closed-end fund worth $2,300,000 after buying an additional 289,712 shares last quarter. Northwestern Mutual Wealth Management Co. increased its holdings of MFS Municipal Income Trust shares by 213.0% in Q2. Northwestern Mutual Wealth Management Co. now owns 361,977 shares of the closed-end fund worth $1,969,000 after purchasing an additional 246,330 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of MFS Municipal Income Trust by 1.2% in the 1st quarter. Van ECK Associates Corp now owns 254,046 shares of the closed-end fund worth $1,555,000 after buying an additional 2,956 shares in the last quarter. 25.54% of the stock is currently held by institutional investors.

MFS Municipal Income Trust Company Profile

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MFS Municipal Income Trust is a closed-end, fixed-income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in US bond markets. It invests primarily in tax-exempt bonds and tax-exempt notes. The fund compares the performance of its portfolio to the Barclays Municipal Bond Index.

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