Mfs Muni Inc Tr (NYSE:MFM) Short Interest Down 36.5% in June

Key Points

• Short interest in Mfs Muni Inc Tr (NYSE:MFM) fell 36.5% in June, dropping to 171,611 shares as of June 30 from 270,174 shares on June 15.
• The fund’s short-interest ratio is now just 0.7 days, with about 0.4% of shares sold short, indicating relatively limited bearish positioning.
• MFM recently declared a monthly dividend of $0.03 per share, payable July 31, which works out to an annualized yield of about 6.5%.

Mfs Muni Inc Tr (NYSE:MFM - Get Free Report) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 171,611 shares, a drop of 36.5% from the June 15th total of 270,174 shares. Based on an average daily trading volume, of 257,046 shares, the short-interest ratio is currently 0.7 days. Approximately 0.4% of the shares of the company are sold short.

Mfs Muni Inc Tr Stock Performance

Shares of MFM traded down $0.01 during midday trading on Friday, hitting $5.56. 68,289 shares of the stock traded hands, compared to its average volume of 138,340. Mfs Muni Inc Tr has a 1-year low of $5.03 and a 1-year high of $5.67. The business's 50 day moving average price is $5.48 and its two-hundred day moving average price is $5.45.

Mfs Muni Inc Tr Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 23rd will be given a $0.03 dividend. The ex-dividend date is Thursday, July 23rd. This represents a c) annualized dividend and a yield of 6.5%.

Institutional Trading of Mfs Muni Inc Tr

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Mfs Muni Inc Tr during the fourth quarter valued at approximately $37,000. Beaumont Financial Advisors LLC acquired a new stake in shares of Mfs Muni Inc Tr in the fourth quarter worth $61,000. Balyasny Asset Management L.P. purchased a new position in shares of Mfs Muni Inc Tr during the fourth quarter valued at $61,000. Jane Street Group LLC purchased a new stake in Mfs Muni Inc Tr in the 2nd quarter worth about $96,000. Finally, Compound Planning Inc. acquired a new stake in Mfs Muni Inc Tr during the 4th quarter worth about $106,000.

About Mfs Muni Inc Tr

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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