Mfs Muni Inc Tr (NYSE:MFM) Shares Shorted: Short Interest Down 51.6% in October

Mfs Muni Inc Tr (NYSE:MFM) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 103,326 shares, a drop of 51.6% from the September 30th total of 213,440 shares. Based on an average daily volume of 605,306 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.3% of the shares of the company are sold short.

Mfs Muni Inc Tr Trading Up 0.4%

Shares of MFM stock traded up $0.02 during trading on Friday, hitting $5.19. The company had a trading volume of 290,044 shares, compared to its average volume of 527,344. The stock’s 50-day moving average price is $5.10 and its 200 day moving average price is $5.36. Mfs Muni Inc Tr has a one year low of $4.75 and a one year high of $5.67.

Mfs Muni Inc Tr Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Friday, October 23rd were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, October 23rd. This represents a $0.36 annualized dividend and a yield of 6.9%.

Institutional Trading of Mfs Muni Inc Tr

Several large investors have recently modified their holdings of the stock. Allworth Financial LP boosted its position in shares of Mfs Muni Inc Tr by 1,220.8% during the 2nd quarter. Allworth Financial LP now owns 9,602 shares of the closed-end fund’s stock worth $54,000 after acquiring an additional 8,875 shares in the last quarter. Fortitude Advisory Group L.L.C. bought a new position in Mfs Muni Inc Tr in the second quarter valued at approximately $59,000. Avior Wealth Management LLC acquired a new position in Mfs Muni Inc Tr during the third quarter valued at approximately $60,000. 1607 Capital Partners LLC acquired a new position in Mfs Muni Inc Tr during the second quarter valued at approximately $154,000. Finally, Concurrent Investment Advisors LLC bought a new stake in Mfs Muni Inc Tr during the second quarter worth $81,000.

About Mfs Muni Inc Tr

MFS Municipal Income Trust is a closed-end investment company listed on the New York Stock Exchange under the symbol MFM. The trust seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal securities issued by states, municipalities and other public entities in the United States.

Its portfolio may include bonds financing public infrastructure and essential services, such as education, transportation, utilities, health care and other governmental projects.