Bulldog Investors LLP Trims Stake in DWS Municipal Income Trust $KTF

Key Points

• Bulldog Investors LLP cut its stake in DWS Municipal Income Trust (NYSE: KTF) by 67.7% in Q3, selling 194,324 shares and leaving 92,604 shares valued at $849,000.
• The trust declared a monthly dividend of $0.061 per share (record date Mar 20, pay date Mar 31), which equates to an approximate 8.0% yield.
• Meanwhile, Karpus Management boosted its holding to 3,057,936 shares (about $27.0M), and institutional investors now own roughly 57.71% of the company.

Bulldog Investors LLP lowered its position in DWS Municipal Income Trust (NYSE:KTF - Free Report) by 67.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 92,604 shares of the investment management company's stock after selling 194,324 shares during the quarter. Bulldog Investors LLP's holdings in DWS Municipal Income Trust were worth $849,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellspring Financial Advisors LLC boosted its stake in DWS Municipal Income Trust by 21.5% during the second quarter. Wellspring Financial Advisors LLC now owns 34,126 shares of the investment management company's stock valued at $302,000 after buying an additional 6,034 shares during the period. Karpus Management Inc. increased its stake in DWS Municipal Income Trust by 28.9% in the 2nd quarter. Karpus Management Inc. now owns 3,057,936 shares of the investment management company's stock worth $27,032,000 after acquiring an additional 684,776 shares during the last quarter. Bank of America Corp DE increased its stake in DWS Municipal Income Trust by 26.5% in the 2nd quarter. Bank of America Corp DE now owns 208,820 shares of the investment management company's stock worth $1,846,000 after acquiring an additional 43,693 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of DWS Municipal Income Trust in the 2nd quarter valued at about $503,000. Finally, Captrust Financial Advisors bought a new stake in shares of DWS Municipal Income Trust during the 2nd quarter valued at about $212,000. Hedge funds and other institutional investors own 57.71% of the company's stock.

DWS Municipal Income Trust Price Performance

Shares of NYSE KTF opened at $9.14 on Friday. DWS Municipal Income Trust has a 12 month low of $8.48 and a 12 month high of $9.50. The business has a 50-day moving average of $9.15 and a 200-day moving average of $9.14.

DWS Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 20th will be issued a dividend of $0.061 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend is Friday, March 20th.

DWS Municipal Income Trust Company Profile

DWS Municipal Income Trust NYSE: KTF is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from regular federal income tax. Established in 2002, the fund is managed by DWS Group, a global asset management firm and affiliate of Deutsche Bank, and trades on the New York Stock Exchange under the ticker symbol KTF. Its structure allows investors access to a diversified portfolio of municipal securities with the potential for tax-advantaged income distributions.

The trust’s investment strategy focuses primarily on investment-grade municipal bonds issued by U.S.

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