Short Interest in MFS MUNI INC TR (NYSE:MFM) Grows By 56.2%

MFS MUNI INC TR (NYSE:MFM - Get Free Report) was the target of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 25,300 shares, an increase of 56.2% from the May 15th total of 16,200 shares. Based on an average daily trading volume, of 154,700 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the company's shares are short sold.

MFS MUNI INC TR Stock Up 0.1%

NYSE:MFM traded up $0.01 on Wednesday, reaching $5.18. 175,872 shares of the company's stock were exchanged, compared to its average volume of 115,776. MFS MUNI INC TR has a 52-week low of $4.94 and a 52-week high of $5.78. The business has a fifty day moving average of $5.11 and a 200-day moving average of $5.32.

MFS MUNI INC TR Cuts Dividend

The company also recently announced a -- dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a dividend of $0.024 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a dividend yield of 5.1%.

Hedge Funds Weigh In On MFS MUNI INC TR

A number of institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC purchased a new stake in MFS MUNI INC TR during the first quarter worth approximately $45,000. Waverly Advisors LLC acquired a new stake in MFS MUNI INC TR during the fourth quarter worth approximately $54,000. Amarillo National Bank purchased a new stake in shares of MFS MUNI INC TR during the 4th quarter worth approximately $62,000. Avantax Advisory Services Inc. purchased a new stake in shares of MFS MUNI INC TR during the 4th quarter worth approximately $69,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of MFS MUNI INC TR in the 4th quarter valued at $70,000.

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.