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

Key Points

• Eaton Vance Municipal Income Trust's stock surpassed its 200-day moving average of $10.45, reaching a high of $11.09 during recent trading.
• The company declared a monthly dividend of $0.0513 per share, with an annualized yield of 5.6%, set to be paid on October 23rd.
• Several institutional investors, including Sax Wealth Advisors LLC and Gridiron Partners LLC, have significantly increased their holdings in the trust during the third quarter.

Eaton Vance Municipal Income Trust (NYSE:EVN - )'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.45 and traded as high as $11.09. Eaton Vance Municipal Income Trust shares last traded at $11.03, with a volume of 42,543 shares.

Eaton Vance Municipal Income Trust Stock Performance

The company has a fifty day moving average of $10.81 and a two-hundred day moving average of $10.45.

Eaton Vance Municipal Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, October 23rd. Investors of record on Tuesday, October 14th will be issued a dividend of $0.0513 per share. This represents a c) annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, October 14th.

Hedge Funds Weigh In On Eaton Vance Municipal Income Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sax Wealth Advisors LLC raised its holdings in Eaton Vance Municipal Income Trust by 37.1% in the 3rd quarter. Sax Wealth Advisors LLC now owns 13,997 shares of the investment management company's stock valued at $155,000 after acquiring an additional 3,789 shares in the last quarter. World Investment Advisors bought a new position in shares of Eaton Vance Municipal Income Trust in the 3rd quarter valued at $381,000. Gridiron Partners LLC increased its stake in shares of Eaton Vance Municipal Income Trust by 2,320.0% in the 3rd quarter. Gridiron Partners LLC now owns 924,331 shares of the investment management company's stock valued at $102,000 after purchasing an additional 886,136 shares during the last quarter. Meadowbrook Wealth Management LLC bought a new position in shares of Eaton Vance Municipal Income Trust in the 3rd quarter valued at $301,000. Finally, Bank of America Corp DE grew its position 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 acquiring an additional 42,332 shares during the last quarter.

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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