Eaton Vance Municipal Income Trust (NYSE:EVN) Short Interest Up 61.5% in July

Key Points

• Eaton Vance Municipal Income Trust experienced a significant increase in short interest, rising 61.5% in July to 279,800 shares as of July 31st.
• The firm declared a monthly dividend of $0.0513, which has an annual yield of 6.0% and will be paid on August 25th.
• Several institutional investors, including Raymond James and Bank of America, have increased their holdings in Eaton Vance Municipal Income Trust during the second quarter.

Eaton Vance Municipal Income Trust (NYSE:EVN - Get Free Report) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 279,800 shares, agrowthof61.5% from the July 15th total of 173,200 shares. Currently,0.7% of the company's shares are sold short. Based on an average daily volume of 78,100 shares, the days-to-cover ratio is currently 3.6 days. Based on an average daily volume of 78,100 shares, the days-to-cover ratio is currently 3.6 days. Currently,0.7% of the company's shares are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in Eaton Vance Municipal Income Trust by 14.1% during the 2nd quarter. Bank of America Corp DE now owns 342,870 shares of the investment management company's stock worth $3,508,000 after purchasing an additional 42,332 shares during the period. Raymond James Financial Inc. increased its holdings in Eaton Vance Municipal Income Trust by 12.0% during the 2nd quarter. Raymond James Financial Inc. now owns 797,595 shares of the investment management company's stock worth $8,159,000 after purchasing an additional 85,737 shares during the period. Cary Street Partners Financial LLC purchased a new position in Eaton Vance Municipal Income Trust during the 2nd quarter worth $160,000. StoneX Group Inc. purchased a new position in Eaton Vance Municipal Income Trust during the 2nd quarter worth $180,000. Finally, Baird Financial Group Inc. increased its holdings in Eaton Vance Municipal Income Trust by 43.5% during the 2nd quarter. Baird Financial Group Inc. now owns 65,615 shares of the investment management company's stock worth $671,000 after purchasing an additional 19,881 shares during the period.

Eaton Vance Municipal Income Trust Trading Up 0.9%

EVN traded up $0.0950 during trading on Friday, hitting $10.4450. 81,741 shares of the stock were exchanged, compared to its average volume of 104,168. The firm has a 50 day simple moving average of $10.40 and a 200 day simple moving average of $10.35. Eaton Vance Municipal Income Trust has a 1 year low of $9.59 and a 1 year high of $11.31.

Eaton Vance Municipal Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 25th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.0513 per share. This represents a c) annualized dividend and a yield of 5.9%. The ex-dividend date is Wednesday, August 13th.

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.