Mfs Muni Inc Tr (NYSE:MFM) Shares Shorted: Short Interest Down 72.3% in September

Mfs Muni Inc Tr (NYSE:MFM) saw a large drop in short interest in September. As of September 15th, there was short interest totaling 30,188 shares, a drop of 72.3% from the August 31st total of 109,125 shares. Based on an average daily volume of 341,484 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Mfs Muni Inc Tr

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. boosted its stake in Mfs Muni Inc Tr by 28.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,024,569 shares of the closed-end fund’s stock valued at $5,758,000 after purchasing an additional 224,810 shares during the last quarter. Robinson Capital Management LLC raised its stake in shares of Mfs Muni Inc Tr by 501.1% in the second quarter. Robinson Capital Management LLC now owns 1,076,957 shares of the closed-end fund’s stock worth $6,052,000 after purchasing an additional 897,784 shares during the last quarter. Closed End Fund Advisors Inc. bought a new position in shares of Mfs Muni Inc Tr in the fourth quarter valued at approximately $1,442,000. NewEdge Advisors LLC boosted its position in shares of Mfs Muni Inc Tr by 103.0% during the second quarter. NewEdge Advisors LLC now owns 320,314 shares of the closed-end fund’s stock valued at $1,800,000 after buying an additional 162,503 shares during the last quarter. Finally, Rivernorth Capital Management LLC grew its holdings in Mfs Muni Inc Tr by 12.0% during the first quarter. Rivernorth Capital Management LLC now owns 908,050 shares of the closed-end fund’s stock worth $4,894,000 after buying an additional 97,052 shares in the last quarter.

Mfs Muni Inc Tr Stock Performance

MFM stock traded down $0.04 during midday trading on Monday, reaching $4.87. 919,173 shares of the company’s stock traded hands, compared to its average volume of 190,969. The firm’s fifty day moving average price is $5.31 and its 200-day moving average price is $5.39. Mfs Muni Inc Tr has a 52 week low of $4.76 and a 52 week high of $5.67.

Mfs Muni Inc Tr Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be issued a dividend of $0.03 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date is Tuesday, September 22nd.

Mfs Muni Inc Tr Company Profile

MFS Municipal Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol MFM. The fund seeks to provide current income that is exempt from federal income tax by investing primarily in municipal bonds and other municipal securities.

The trust’s portfolio may include obligations issued by states, municipalities and other governmental entities, as well as securities issued to finance public infrastructure and essential services. Its investments generally span municipal issuers across the United States, with portfolio composition and geographic exposure changing over time based on market conditions and the fund’s investment strategy.

MFS Municipal Income Trust is managed by MFS Investment Management, an investment management firm that provides portfolio management and related services to mutual funds, closed-end funds and other institutional and individual investors.