Hennion & Walsh Asset Management Inc. Acquires 224,810 Shares of Mfs Muni Inc Tr $MFM

Key Points

• Hennion & Walsh Asset Management increased its MFM position by 28.1% in the second quarter, acquiring 224,810 shares and bringing its total to 1,024,569 shares, worth approximately $5.76 million.
• Several other institutional investors also raised their holdings, led by Pathstone Holdings, which increased its stake by 46.1% to nearly 3.95 million shares.
• MFM shares opened at $5.44, within a 12-month range of $5.03 to $5.67, while the trust declared a $0.03 monthly dividend, representing an indicated annual yield of about 6.6%.

Hennion & Walsh Asset Management Inc. boosted its holdings in Mfs Muni Inc Tr (NYSE:MFM - Free Report) by 28.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,024,569 shares of the closed-end fund's stock after purchasing an additional 224,810 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 2.49% of Mfs Muni Inc Tr worth $5,758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pathstone Holdings LLC boosted its position in shares of Mfs Muni Inc Tr by 46.1% in the 3rd quarter. Pathstone Holdings LLC now owns 3,944,944 shares of the closed-end fund's stock worth $21,263,000 after purchasing an additional 1,245,143 shares in the last quarter. Bank of America Corp DE increased its position in Mfs Muni Inc Tr by 1.1% during the 1st quarter. Bank of America Corp DE now owns 1,605,668 shares of the closed-end fund's stock valued at $8,655,000 after buying an additional 18,174 shares in the last quarter. UBS Group AG increased its position in Mfs Muni Inc Tr by 2.2% during the 4th quarter. UBS Group AG now owns 1,165,389 shares of the closed-end fund's stock valued at $6,328,000 after buying an additional 24,937 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Mfs Muni Inc Tr by 27.7% during the fourth quarter. Advisors Asset Management Inc. now owns 1,131,102 shares of the closed-end fund's stock valued at $6,142,000 after buying an additional 245,549 shares during the last quarter. Finally, Rivernorth Capital Management LLC raised its stake in Mfs Muni Inc Tr by 12.0% during the first quarter. Rivernorth Capital Management LLC now owns 908,050 shares of the closed-end fund's stock valued at $4,894,000 after buying an additional 97,052 shares during the last quarter.

Mfs Muni Inc Tr Price Performance

Mfs Muni Inc Tr stock opened at $5.44 on Monday. Mfs Muni Inc Tr has a 12 month low of $5.03 and a 12 month high of $5.67. The business's fifty day simple moving average is $5.49 and its two-hundred day simple moving average is $5.45.

Mfs Muni Inc Tr Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, July 23rd were paid a $0.03 dividend. The ex-dividend date was Thursday, July 23rd. This represents a c) dividend on an annualized basis and a yield of 6.6%.

Mfs Muni Inc Tr Profile

MFS Municipal Income Trust NYSE: MFM is a closed-end management investment company that seeks to provide shareholders with a high level of income exempt from federal income tax. The trust primarily invests in a diversified portfolio of municipal securities, including both general obligation and revenue bonds issued by U.S. states, territories and municipalities. Its shares trade on the New York Stock Exchange, offering investors access to a professionally managed municipal bond portfolio within a single, publicly traded vehicle.

At least 80% of the trust's total assets are allocated to investment-grade municipal debt, with the flexibility to invest up to 20% in non-investment grade or unrated securities when market conditions warrant.

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