Robinson Capital Management LLC Acquires 897,784 Shares of Mfs Muni Inc Tr $MFM

Key Points

• Robinson Capital Management increased its MFS Municipal Income Trust (NYSE: MFM) holdings by 501.1% in the second quarter, acquiring 897,784 shares and bringing its total to 1.08 million shares, worth approximately $6.05 million.
• Several other institutional investors also raised their positions, including Hennion & Walsh Asset Management, RiverNorth Capital Management, Cetera Investment Advisers, and Royal Bank of Canada.
• MFM recently traded near its 12-month low at $5.21 and pays a monthly $0.03-per-share dividend, representing an annualized yield of about 6.9%. The closed-end fund primarily invests in municipal bonds and seeks federally tax-exempt income.

Robinson Capital Management LLC lifted its holdings in shares of Mfs Muni Inc Tr (NYSE:MFM - Free Report) by 501.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,076,957 shares of the closed-end fund's stock after buying an additional 897,784 shares during the period. Mfs Muni Inc Tr comprises about 2.7% of Robinson Capital Management LLC's portfolio, making the stock its 13th biggest holding. Robinson Capital Management LLC owned about 2.61% of Mfs Muni Inc Tr worth $6,052,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Hennion & Walsh Asset Management Inc. lifted its stake in Mfs Muni Inc Tr by 28.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,024,569 shares of the closed-end fund's stock valued at $5,758,000 after purchasing an additional 224,810 shares during the last quarter. Closed End Fund Advisors Inc. bought a new stake in shares of Mfs Muni Inc Tr during the fourth quarter worth $1,442,000. Rivernorth Capital Management LLC increased its holdings in shares of 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 worth $4,894,000 after buying an additional 97,052 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Mfs Muni Inc Tr by 22.4% during the first quarter. Cetera Investment Advisers now owns 34,303 shares of the closed-end fund's stock worth $185,000 after buying an additional 6,268 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Mfs Muni Inc Tr by 23.3% in the 1st quarter. Royal Bank of Canada now owns 128,209 shares of the closed-end fund's stock valued at $691,000 after acquiring an additional 24,243 shares during the last quarter.

Mfs Muni Inc Tr Price Performance

NYSE MFM opened at $5.21 on Thursday. Mfs Muni Inc Tr has a twelve month low of $5.20 and a twelve month high of $5.67. The business's fifty day moving average is $5.43 and its 200 day moving average is $5.43.

Mfs Muni Inc Tr Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 24th were paid a dividend of $0.03 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend was Monday, August 24th.

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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