Mfs Muni Inc Tr (NYSE:MFM) Stock Passes Above 50 Day Moving Average – Should You Sell?

Shares of Mfs Muni Inc Tr (NYSE:MFM) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $5.40 and traded as high as $5.51. Mfs Muni Inc Tr shares last traded at $5.4650, with a volume of 84,772 shares traded.

Mfs Muni Inc Tr Trading Down 0.5%

The firm’s 50-day moving average price is $5.40 and its 200 day moving average price is $5.42.

Mfs Muni Inc Tr Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.024 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a c) annualized dividend and a dividend yield of 5.3%.

Hedge Funds Weigh In On Mfs Muni Inc Tr

Large investors have recently modified their holdings of the company. Garton & Associates Financial Advisors LLC bought a new position in shares of Mfs Muni Inc Tr in the 4th quarter worth $37,000. Beaumont Financial Advisors LLC bought a new position in shares of Mfs Muni Inc Tr in the 4th quarter worth $61,000. Balyasny Asset Management L.P. bought a new position in shares of Mfs Muni Inc Tr in the 4th quarter worth $61,000. Colonial Trust Advisors bought a new position in shares of Mfs Muni Inc Tr in the 3rd quarter worth $62,000. Finally, Activest Wealth Management bought a new position in shares of Mfs Muni Inc Tr in the 3rd quarter worth $80,000.

About Mfs Muni Inc Tr

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.