Eaton Vance Municipal Income Trust (NYSE:EVN) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Eaton Vance Municipal Income Trust (NYSE: EVN) moved above its 200-day moving average, trading as high as $11.08 and last changing hands at $11.0450, up about 0.6% on the day.
• The trust announced a monthly dividend of $0.0513 per share, payable on July 24 to shareholders of record on July 14, implying an annualized yield of about 5.6%.
• Institutional investors have been adjusting positions, with firms such as Hennion & Walsh and InTrack Investment Management increasing their stakes in the fund.

Eaton Vance Municipal Income Trust (NYSE:EVN - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.78 and traded as high as $11.08. Eaton Vance Municipal Income Trust shares last traded at $11.0450, with a volume of 108,959 shares traded.

Eaton Vance Municipal Income Trust Stock Up 0.6%

The stock's fifty day simple moving average is $10.82 and its two-hundred day simple moving average is $10.78.

Eaton Vance Municipal Income Trust Dividend Announcement

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

Institutional Investors Weigh In On Eaton Vance Municipal Income Trust

Institutional investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. raised its holdings in 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 buying an additional 140,792 shares during the period. InTrack Investment Management Inc grew its stake in Eaton Vance Municipal Income Trust by 85.7% during the fourth quarter. InTrack Investment Management Inc now owns 64,991 shares of the investment management company's stock worth $699,000 after buying an additional 29,990 shares during the period. Meadowbrook Wealth Management LLC grew its stake in Eaton Vance Municipal Income Trust by 4.2% during the fourth quarter. Meadowbrook Wealth Management LLC now owns 28,286 shares of the investment management company's stock worth $304,000 after buying an additional 1,130 shares during the period. Westview Management dba Westview Investment Advisors acquired a new stake in shares of Eaton Vance Municipal Income Trust in the fourth quarter worth $408,000. Finally, World Investment Advisors increased its position in shares of Eaton Vance Municipal Income Trust by 6.4% in the fourth quarter. World Investment Advisors now owns 36,579 shares of the investment management company's stock worth $394,000 after acquiring an additional 2,196 shares in the last quarter.

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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