Eaton Vance Municipal Income Trust (NYSE:EVN) Short Interest Down 47.0% in July

Key Points

• Short interest fell 47% to 84,460 shares as of July 31, representing 0.2% of EVN’s outstanding stock and 1.1 days to cover.
• EVN shares recently traded at $10.83, within their 52-week range of $10.09 to $11.26, while remaining near their 50-day and 200-day moving averages.
• The trust announced a monthly dividend of $0.0513 per share, equivalent to a stated 5.7% yield, with payment scheduled for August 25 to shareholders of record August 13.

Eaton Vance Municipal Income Trust (NYSE:EVN - Get Free Report) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totaling 84,460 shares, a decrease of 47.0% from the July 15th total of 159,225 shares. Based on an average daily trading volume, of 78,489 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.2% of the company's stock are sold short.

Eaton Vance Municipal Income Trust Stock Performance

Shares of Eaton Vance Municipal Income Trust stock traded down $0.05 during trading on Friday, hitting $10.83. 83,434 shares of the stock traded hands, compared to its average volume of 88,024. The stock's fifty day simple moving average is $10.88 and its 200 day simple moving average is $10.77. Eaton Vance Municipal Income Trust has a 52-week low of $10.09 and a 52-week high of $11.26.

Eaton Vance Municipal Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.0513 per share. This represents a c) annualized dividend and a yield of 5.7%. The ex-dividend date is Thursday, August 13th.

Institutional Investors Weigh In On Eaton Vance Municipal Income Trust

Several large investors have recently modified their holdings of the business. CENTRAL TRUST Co bought a new position in shares of Eaton Vance Municipal Income Trust during the fourth quarter valued at approximately $54,000. First Trust Advisors LP bought a new position in Eaton Vance Municipal Income Trust in the first quarter worth approximately $105,000. Glen Eagle Advisors LLC purchased a new stake in Eaton Vance Municipal Income Trust during the fourth quarter worth $111,000. &PARTNERS purchased a new stake in Eaton Vance Municipal Income Trust during the fourth quarter worth $142,000. Finally, Coquina Private Wealth LLC bought a new stake in Eaton Vance Municipal Income Trust during the 4th quarter valued at $143,000.

Eaton Vance Municipal Income Trust Company Profile

Eaton Vance Municipal Income Trust NYSE: EVN is a closed-end management investment company that seeks to provide shareholders with current income exempt from federal income taxes. The trust primarily invests in investment-grade municipal securities issued by U.S. state and local governments, authorities and agencies. By focusing on tax-exempt income, EVN aims to deliver attractive after-tax yields to individual and institutional investors.

The fund's portfolio is diversified across sectors such as general obligation bonds, revenue bonds, essential service issuers and housing finance agencies.

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