Eaton Vance Municipal Income Trust (NYSE:EVN) Stock Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Eaton Vance Municipal Income Trust's share price recently crossed above its 200-day moving average of $10.33, trading as high as $10.52.
• The firm declared a monthly dividend of $0.0513 per share, which translates to an annualized dividend yield of 5.9%.
• Several institutional investors, including LPL Financial LLC and Invesco Ltd., have recently adjusted their holdings in the trust, indicating growing interest in the stock.

Eaton Vance Municipal Income Trust (NYSE:EVN - Get Free Report) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.33 and traded as high as $10.52. Eaton Vance Municipal Income Trust shares last traded at $10.48, with a volume of 96,008 shares changing hands.

Eaton Vance Municipal Income Trust Stock Up 0.5%

The business's 50 day moving average is $10.33 and its 200-day moving average is $10.34.

Eaton Vance Municipal Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 25th. Investors of record on Wednesday, August 13th will be paid a $0.0513 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Wednesday, August 13th.

Hedge Funds Weigh In On Eaton Vance Municipal Income Trust

Hedge funds have recently added to or reduced their stakes in the business. Dagco Inc. acquired a new position in Eaton Vance Municipal Income Trust in the first quarter worth $25,000. Abel Hall LLC acquired a new position in Eaton Vance Municipal Income Trust in the second quarter worth $102,000. PNC Financial Services Group Inc. boosted its holdings in Eaton Vance Municipal Income Trust by 33.6% in the first quarter. PNC Financial Services Group Inc. now owns 10,613 shares of the investment management company's stock worth $109,000 after purchasing an additional 2,672 shares during the period. Walleye Capital LLC acquired a new position in Eaton Vance Municipal Income Trust in the fourth quarter worth $114,000. Finally, Landscape Capital Management L.L.C. acquired a new position in Eaton Vance Municipal Income Trust in the fourth quarter worth $150,000.

Eaton Vance Municipal Income Trust Company Profile

Eaton Vance Municipal Income Trust is a close ended fixed income mutual fund launched and managed by Eaton Vance Management. It invests in the fixed income markets. The fund invests primarily in investment grade municipal obligations of various sectors, such as cogeneration, education, electric utilities, general obligations, healthcare, hospital, housing, transportation, and nursing home.