Sit Investment Associates Inc. Grows Holdings in DWS Municipal Income Trust (NYSE:KTF)

Key Points

• Sit Investment Associates Inc. increased its holdings in DWS Municipal Income Trust by 3.4%, owning approximately 23.69% of the trust, valued at $87,038,000.
• DWS Municipal Income Trust will distribute a monthly dividend of $0.061 on August 29th, providing an annual yield of 8.5%.
• Institutional investors hold 57.71% of DWS Municipal Income Trust's stock, indicating strong institutional interest in the fund.

Sit Investment Associates Inc. increased its stake in shares of DWS Municipal Income Trust (NYSE:KTF - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,279,098 shares of the investment management company's stock after purchasing an additional 301,804 shares during the quarter. DWS Municipal Income Trust accounts for 2.0% of Sit Investment Associates Inc.'s holdings, making the stock its 5th biggest holding. Sit Investment Associates Inc. owned approximately 23.69% of DWS Municipal Income Trust worth $87,038,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of KTF. Nuveen LLC bought a new position in DWS Municipal Income Trust in the 1st quarter valued at $741,000. Invesco Ltd. grew its position in DWS Municipal Income Trust by 5.3% in the 1st quarter. Invesco Ltd. now owns 24,999 shares of the investment management company's stock valued at $234,000 after acquiring an additional 1,263 shares during the last quarter. XTX Topco Ltd bought a new position in DWS Municipal Income Trust in the 1st quarter valued at $134,000. Graham Capital Wealth Management LLC bought a new position in DWS Municipal Income Trust in the 1st quarter valued at $410,000. Finally, Dakota Wealth Management grew its position in DWS Municipal Income Trust by 105.7% in the 1st quarter. Dakota Wealth Management now owns 75,913 shares of the investment management company's stock valued at $712,000 after acquiring an additional 39,013 shares during the last quarter. Institutional investors own 57.71% of the company's stock.

DWS Municipal Income Trust Stock Up 0.1%

Shares of DWS Municipal Income Trust stock opened at $8.63 on Thursday. The stock's fifty day moving average is $8.73 and its two-hundred day moving average is $9.09. DWS Municipal Income Trust has a 52 week low of $8.48 and a 52 week high of $10.22.

DWS Municipal Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th will be given a $0.061 dividend. This represents a c) annualized dividend and a yield of 8.5%. The ex-dividend date of this dividend is Tuesday, August 19th.

DWS Municipal Income Trust Profile

Deutsche Municipal Income Trust is a closed-ended fixed income mutual fund launched and managed by Deutsche Investment Management Americas, Inc It invests in the fixed income markets of the United States. The fund primarily invests in investment-grade tax-exempt municipal securities which are exempt from federal income tax.

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