Mfs Muni Inc Tr (NYSE:MFM) Share Price Breaks Above Fifty Day Moving Average – Time to Sell?

Mfs Muni Inc Tr (NYSE:MFM)’s stock price passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $5.12 and traded as high as $5.19. Mfs Muni Inc Tr shares last traded at $5.1650, with a volume of 237,989 shares.

Mfs Muni Inc Tr Trading Up 1.1%

The company’s 50-day moving average price is $5.12 and its two-hundred day moving average price is $5.37.

Mfs Muni Inc Tr Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be paid a $0.03 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Friday, October 23rd.

Institutional Investors Weigh In On Mfs Muni Inc Tr

A number of large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in Mfs Muni Inc Tr by 1.1% during the first quarter. Bank of America Corp DE now owns 1,605,668 shares of the closed-end fund’s stock valued at $8,655,000 after purchasing an additional 18,174 shares in the last quarter. Robinson Capital Management LLC increased its position in shares of Mfs Muni Inc Tr by 501.1% during the 2nd quarter. Robinson Capital Management LLC now owns 1,076,957 shares of the closed-end fund’s stock valued at $6,052,000 after purchasing an additional 897,784 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of 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. Rivernorth Capital Management LLC increased its position in shares of Mfs Muni Inc Tr by 12.0% during the 1st quarter. Rivernorth Capital Management LLC now owns 908,050 shares of the closed-end fund’s stock valued at $4,894,000 after purchasing an additional 97,052 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Mfs Muni Inc Tr by 103.0% during the 2nd quarter. NewEdge Advisors LLC now owns 320,314 shares of the closed-end fund’s stock valued at $1,800,000 after purchasing an additional 162,503 shares during the last quarter.

Mfs Muni Inc Tr Company Profile

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.