Eaton Vance Municipal Income Trust (NYSE:EVN) Sees Large Decrease in Short Interest

Key Points

• Short interest fell 42.1% to 107,297 shares as of September 30, representing 0.3% of EVN’s shares and just 0.7 days to cover.
• EVN shares traded at $9.49, below their 50-day and 200-day moving averages, with a one-year range of $9.00 to $11.26.
• The fund declared a monthly dividend of $0.0513 per share, equivalent to approximately $0.62 annually and a 6.5% yield; several institutional investors also increased or initiated positions.

Eaton Vance Municipal Income Trust (NYSE:EVN - Get Free Report) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 107,297 shares, a decrease of 42.1% from the September 15th total of 185,421 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 163,556 shares, the days-to-cover ratio is presently 0.7 days.

Eaton Vance Municipal Income Trust Stock Performance

Shares of EVN stock traded up $0.11 during trading on Thursday, reaching $9.49. 107,126 shares of the company's stock traded hands, compared to its average volume of 93,064. The firm's 50-day moving average is $10.20 and its 200 day moving average is $10.54. Eaton Vance Municipal Income Trust has a 1 year low of $9.00 and a 1 year high of $11.26.

Eaton Vance Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, October 26th. Stockholders of record on Wednesday, October 14th will be given a dividend of $0.0513 per share. The ex-dividend date is Wednesday, October 14th. This represents a $0.62 annualized dividend and a dividend yield of 6.5%.

Institutional Investors Weigh In On Eaton Vance Municipal Income Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. Meadowbrook Wealth Management LLC grew its position in shares of Eaton Vance Municipal Income Trust by 11.5% during the 3rd quarter. Meadowbrook Wealth Management LLC now owns 49,947 shares of the investment management company's stock valued at $462,000 after purchasing an additional 5,141 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Eaton Vance Municipal Income Trust during the 2nd quarter valued at about $304,000. Integrated Wealth Concepts LLC bought a new stake in shares of Eaton Vance Municipal Income Trust during the 2nd quarter valued at about $28,000. NewEdge Advisors LLC grew its holdings in shares of Eaton Vance Municipal Income Trust by 12.8% during the first quarter. NewEdge Advisors LLC now owns 69,298 shares of the investment management company's stock worth $721,000 after purchasing an additional 7,867 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Eaton Vance Municipal Income Trust by 1.2% during the first quarter. Bank of America Corp DE now owns 343,201 shares of the investment management company's stock worth $3,573,000 after purchasing an additional 4,171 shares in the last quarter.

About Eaton Vance Municipal Income Trust

Eaton Vance Municipal Income Trust is a closed-end investment company listed on the New York Stock Exchange under the symbol EVN. The fund seeks to provide current income that is exempt from regular U.S. federal income tax by investing primarily in municipal obligations issued by states, municipalities and other public authorities.

The trust invests in a diversified portfolio of tax-exempt municipal bonds and related securities. These investments may finance public infrastructure and services, including schools, transportation systems, utilities, health care facilities and other projects.

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