Axxcess Wealth Management LLC Purchases Shares of 22,500 DWS Municipal Income Trust (NYSE:KTF)

Axxcess Wealth Management LLC acquired a new stake in DWS Municipal Income Trust (NYSE:KTF) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 22,500 shares of the investment management company’s stock, valued at approximately $213,000. Axxcess Wealth Management LLC owned approximately 0.06% of DWS Municipal Income Trust at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Park Avenue Securities LLC grew its holdings in shares of DWS Municipal Income Trust by 10.6% in the 4th quarter. Park Avenue Securities LLC now owns 113,646 shares of the investment management company’s stock valued at $1,074,000 after acquiring an additional 10,885 shares in the last quarter. Noble Wealth Management PBC bought a new position in shares of DWS Municipal Income Trust in the 4th quarter valued at about $710,000. HighTower Advisors LLC grew its holdings in shares of DWS Municipal Income Trust by 18.5% in the 3rd quarter. HighTower Advisors LLC now owns 13,651 shares of the investment management company’s stock valued at $135,000 after acquiring an additional 2,135 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of DWS Municipal Income Trust by 17.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 570,351 shares of the investment management company’s stock valued at $5,390,000 after acquiring an additional 85,515 shares in the last quarter. Finally, Transform Wealth LLC bought a new position in shares of DWS Municipal Income Trust in the 4th quarter valued at about $546,000. Institutional investors own 57.71% of the company’s stock.

DWS Municipal Income Trust Stock Performance

Shares of NYSE KTF opened at $9.37 on Friday. The business has a 50-day moving average of $9.53 and a 200-day moving average of $9.74. DWS Municipal Income Trust has a fifty-two week low of $8.92 and a fifty-two week high of $10.22.

DWS Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a dividend of $0.061 per share. This represents a $0.73 dividend on an annualized basis and a yield of 7.82%. The ex-dividend date is Thursday, March 20th.

DWS Municipal Income Trust Profile

Deutsche Municipal Income Trust is a closed-ended fixed income mutual fund launched and managed by Deutsche Investment Management Americas, Inc It invests in the fixed income markets of the United States. The fund primarily invests in investment-grade tax-exempt municipal securities which are exempt from federal income tax.