1607 Capital Partners LLC Boosts Stake in DWS Municipal Income Trust $KTF

Key Points

• 1607 Capital Partners LLC increased its stake in DWS Municipal Income Trust (NYSE:KTF) by 4.8%, now holding approximately 1.1% of the company's shares valued at $13.8 million.
• DWS Municipal Income Trust recently declared a monthly dividend of $0.061, providing an annualized yield of 8.3% for shareholders.
• Shares for DWS Municipal Income Trust opened at $8.79, with a 52-week range between a low of $8.48 and a high of $10.22.

1607 Capital Partners LLC lifted its stake in DWS Municipal Income Trust (NYSE:KTF - Free Report) by 4.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,476,480 shares of the investment management company's stock after purchasing an additional 67,001 shares during the quarter. DWS Municipal Income Trust comprises approximately 1.1% of 1607 Capital Partners LLC's holdings, making the stock its 25th largest position. 1607 Capital Partners LLC owned 3.77% of DWS Municipal Income Trust worth $13,849,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sit Investment Associates Inc. boosted its position in shares of DWS Municipal Income Trust by 3.4% in the 1st quarter. Sit Investment Associates Inc. now owns 9,279,098 shares of the investment management company's stock worth $87,038,000 after purchasing an additional 301,804 shares in the last quarter. Graham Capital Wealth Management LLC bought a new stake in shares of DWS Municipal Income Trust in the 1st quarter worth approximately $410,000. CX Institutional bought a new stake in shares of DWS Municipal Income Trust in the 1st quarter worth approximately $107,000. Envestnet Asset Management Inc. boosted its position in shares of DWS Municipal Income Trust by 14.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 141,831 shares of the investment management company's stock worth $1,330,000 after purchasing an additional 17,605 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of DWS Municipal Income Trust in the 1st quarter worth approximately $134,000. 57.71% of the stock is owned by institutional investors.

DWS Municipal Income Trust Price Performance

Shares of KTF opened at $8.79 on Tuesday. The business's 50 day moving average price is $8.68 and its 200-day moving average price is $9.00. DWS Municipal Income Trust has a 52 week low of $8.48 and a 52 week high of $10.22.

DWS Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th were given a $0.061 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date of this dividend was Tuesday, August 19th.

DWS Municipal Income Trust Profile

Deutsche Municipal Income Trust is a closed-ended fixed income mutual fund launched and managed by Deutsche Investment Management Americas, Inc It invests in the fixed income markets of the United States. The fund primarily invests in investment-grade tax-exempt municipal securities which are exempt from federal income tax.

Want to see what other hedge funds are holding KTF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DWS Municipal Income Trust (NYSE:KTF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.