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

Key Points

• Eaton Vance Municipal Income Trust (NYSE: EVN) moved above its 200-day moving average, trading as high as $11.08 and last seen around $11.06. The 200-day average was $10.79, with the 50-day average at $10.88.
• The trust recently declared a monthly dividend of $0.0513 per share, payable on July 24 to shareholders of record on July 14. That works out to an annualized yield of about 5.6%.
• Institutional investors have been adding to EVN, including Guggenheim Capital, Hennion & Walsh, Raymond James Financial, and Bank of America Corp DE. The article highlights continued interest in the fund from large holders.

Eaton Vance Municipal Income Trust (NYSE:EVN - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.79 and traded as high as $11.08. Eaton Vance Municipal Income Trust shares last traded at $11.0570, with a volume of 25,883 shares.

Eaton Vance Municipal Income Trust Price Performance

The company's 50-day moving average price is $10.88 and its 200-day moving average price is $10.79.

Eaton Vance Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, July 24th. Investors of record on Tuesday, July 14th will be paid a $0.0513 dividend. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a c) dividend on an annualized basis and a yield of 5.6%.

Institutional Investors Weigh In On Eaton Vance Municipal Income Trust

Several large investors have recently bought and sold shares of EVN. Guggenheim Capital LLC grew its position in shares of Eaton Vance Municipal Income Trust by 17.7% in the fourth quarter. Guggenheim Capital LLC now owns 957,988 shares of the investment management company's stock valued at $10,308,000 after purchasing an additional 143,896 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Eaton Vance Municipal Income Trust by 17.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 948,250 shares of the investment management company's stock valued at $10,203,000 after purchasing an additional 140,792 shares during the last quarter. Raymond James Financial Inc. lifted its position in Eaton Vance Municipal Income Trust by 12.0% during the second quarter. Raymond James Financial Inc. now owns 797,595 shares of the investment management company's stock worth $8,159,000 after buying an additional 85,737 shares in the last quarter. Meadowbrook Wealth Management LLC purchased a new position in Eaton Vance Municipal Income Trust during the second quarter worth approximately $502,000. Finally, Bank of America Corp DE boosted its stake in Eaton Vance Municipal Income Trust by 14.1% during the second quarter. Bank of America Corp DE now owns 342,870 shares of the investment management company's stock worth $3,508,000 after buying an additional 42,332 shares during the last quarter.

About Eaton Vance Municipal Income Trust

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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