MFS MUNI INC TR (NYSE:MFM) Raises Dividend to $0.02 Per Share

MFS MUNI INC TR (NYSE:MFM - Get Free Report) announced a monthly dividend on Thursday, July 3rd, Wall Street Journal reports. Stockholders of record on Tuesday, July 15th will be given a dividend of 0.024 per share by the closed-end fund on Thursday, July 31st. This represents a $0.29 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date is Tuesday, July 15th. This is a 9.1% increase from MFS MUNI INC TR's previous monthly dividend of $0.02.

MFS MUNI INC TR Trading Up 0.2%

Shares of NYSE MFM traded up $0.01 during trading hours on Friday, hitting $5.19. The stock had a trading volume of 94,916 shares, compared to its average volume of 117,981. The firm's 50-day moving average price is $5.15 and its two-hundred day moving average price is $5.28. MFS MUNI INC TR has a 52 week low of $4.94 and a 52 week high of $5.78.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in MFS MUNI INC TR stock. NewEdge Advisors LLC raised its stake in shares of MFS MUNI INC TR (NYSE:MFM - Free Report) by 35.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,049 shares of the closed-end fund's stock after buying an additional 20,118 shares during the period. NewEdge Advisors LLC owned 0.16% of MFS MUNI INC TR worth $408,000 at the end of the most recent quarter.

MFS MUNI INC TR Company Profile

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.