Bank of America Corp DE lifted its stake in MFS Municipal Income Trust (NYSE:MFM - Free Report) by 15.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,895,354 shares of the closed-end fund's stock after purchasing an additional 255,120 shares during the period. Bank of America Corp DE's holdings in MFS Municipal Income Trust were worth $10,140,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Anderson Financial Strategies LLC bought a new stake in MFS Municipal Income Trust during the fourth quarter valued at about $4,288,000. Raymond James Financial Inc. bought a new position in shares of MFS Municipal Income Trust during the 4th quarter valued at approximately $997,000. Advisors Asset Management Inc. grew its stake in shares of MFS Municipal Income Trust by 21.2% during the 4th quarter. Advisors Asset Management Inc. now owns 875,266 shares of the closed-end fund's stock valued at $4,683,000 after acquiring an additional 153,263 shares during the period. Guggenheim Capital LLC increased its holdings in MFS Municipal Income Trust by 23.4% in the 4th quarter. Guggenheim Capital LLC now owns 654,988 shares of the closed-end fund's stock worth $3,504,000 after acquiring an additional 124,086 shares in the last quarter. Finally, Invesco Ltd. raised its stake in MFS Municipal Income Trust by 85.9% during the 4th quarter. Invesco Ltd. now owns 239,267 shares of the closed-end fund's stock worth $1,280,000 after acquiring an additional 110,536 shares during the period.
MFS Municipal Income Trust Price Performance
NYSE:MFM traded up $0.02 during trading hours on Thursday, hitting $5.11. 147,313 shares of the stock traded hands, compared to its average volume of 110,625. MFS Municipal Income Trust has a 1 year low of $4.94 and a 1 year high of $5.78. The stock has a 50 day moving average price of $5.16 and a 200 day moving average price of $5.36.
MFS Municipal Income Trust Increases Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 13th will be paid a dividend of $0.022 per share. This is a boost from MFS Municipal Income Trust's previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.17%.
About MFS Municipal Income Trust
(
Free Report)
MFS Municipal Income Trust is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets of the United States. It primarily invests in tax-exempt bonds and tax-exempt notes. The fund benchmarks the performance of its portfolio against Barclays Municipal Bond Index.
Further Reading
Before you consider MFS Municipal Income Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MFS Municipal Income Trust wasn't on the list.
While MFS Municipal Income Trust currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Explore Elon Musk’s boldest ventures yet—from AI and autonomy to space colonization—and find out how investors can ride the next wave of innovation.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
