Eaton Vance Municipal Income Trust (NYSE:EVN) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• Shares of Eaton Vance Municipal Income Trust (NYSE:EVN) recently crossed above their 200-day moving average, trading at $11.16 with a high of $11.22.
• The trust announced a monthly dividend of $0.0513 per share, representing an annualized yield of 5.5%, with the ex-dividend date on September 12th.
• Several institutional investors, including Raymond James Financial Inc. and Invesco Ltd., have increased their holdings in Eaton Vance Municipal Income Trust, reflecting growing interest in the stock.

Shares of Eaton Vance Municipal Income Trust (NYSE:EVN - ) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.38 and traded as high as $11.22. Eaton Vance Municipal Income Trust shares last traded at $11.16, with a volume of 129,879 shares.

Eaton Vance Municipal Income Trust Stock Performance

The firm has a fifty day moving average price of $10.65 and a 200 day moving average price of $10.38.

Eaton Vance Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Friday, September 12th were given a $0.0513 dividend. This represents a c) annualized dividend and a yield of 5.5%. The ex-dividend date was Friday, September 12th.

Institutional Trading of Eaton Vance Municipal Income Trust

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. raised its position in Eaton Vance Municipal Income Trust by 5.6% in the 1st quarter. Raymond James Financial Inc. now owns 711,858 shares of the investment management company's stock worth $7,304,000 after purchasing an additional 37,539 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Eaton Vance Municipal Income Trust by 4.6% during the fourth quarter. Bank of America Corp DE now owns 254,071 shares of the investment management company's stock valued at $2,569,000 after acquiring an additional 11,080 shares during the period. LPL Financial LLC lifted its stake in shares of Eaton Vance Municipal Income Trust by 26.4% during the first quarter. LPL Financial LLC now owns 192,051 shares of the investment management company's stock valued at $1,970,000 after acquiring an additional 40,171 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in Eaton Vance Municipal Income Trust in the first quarter valued at about $1,758,000. Finally, Invesco Ltd. increased its position in Eaton Vance Municipal Income Trust by 34.2% in the first quarter. Invesco Ltd. now owns 167,597 shares of the investment management company's stock worth $1,720,000 after purchasing an additional 42,724 shares during the period.

About Eaton Vance Municipal Income Trust

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.

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