Mfs Muni Inc Tr $MFM Shares Sold by Gridiron Partners LLC

Key Points

• Gridiron Partners LLC cut its stake in MFS Municipal Income Trust by 96.1%, selling 296,292 shares in Q4 and leaving it with 11,873 shares worth about $64,000.
• MFM declared a monthly dividend of $0.024 per share (annualized yield ~5.4%), with record and ex-dividend dates on March 17 and payment on March 31.
• Other institutions increased exposure, notably Pathstone Holdings, which grew its position 46.1% to 3,944,944 shares valued at roughly $21.3 million, while firms like Invesco and Mackay Shields also added shares.

Gridiron Partners LLC trimmed its holdings in shares of Mfs Muni Inc Tr (NYSE:MFM - Free Report) by 96.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,873 shares of the closed-end fund's stock after selling 296,292 shares during the period. Gridiron Partners LLC's holdings in Mfs Muni Inc Tr were worth $64,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pathstone Holdings LLC grew its holdings in Mfs Muni Inc Tr by 46.1% during the 3rd quarter. Pathstone Holdings LLC now owns 3,944,944 shares of the closed-end fund's stock valued at $21,263,000 after buying an additional 1,245,143 shares during the last quarter. Balanced Wealth Group LLC acquired a new position in shares of Mfs Muni Inc Tr in the second quarter worth $932,000. Advisors Asset Management Inc. raised its holdings in shares of Mfs Muni Inc Tr by 14.0% in the second quarter. Advisors Asset Management Inc. now owns 873,146 shares of the closed-end fund's stock worth $4,514,000 after acquiring an additional 106,967 shares during the last quarter. Invesco Ltd. lifted its position in shares of Mfs Muni Inc Tr by 32.4% in the second quarter. Invesco Ltd. now owns 423,411 shares of the closed-end fund's stock valued at $2,189,000 after acquiring an additional 103,601 shares in the last quarter. Finally, Mackay Shields LLC lifted its position in shares of Mfs Muni Inc Tr by 30.0% in the third quarter. Mackay Shields LLC now owns 433,155 shares of the closed-end fund's stock valued at $2,335,000 after acquiring an additional 100,000 shares in the last quarter.

Mfs Muni Inc Tr Stock Down 1.8%

MFM opened at $5.30 on Friday. The business's fifty day simple moving average is $5.49 and its 200 day simple moving average is $5.41. Mfs Muni Inc Tr has a 52 week low of $4.94 and a 52 week high of $5.67.

Mfs Muni Inc Tr Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.024 per share. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Tuesday, March 17th.

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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