Mfs Muni Inc Tr (NYSE:MFM) Sees Significant Decrease in Short Interest

Key Points

• Short interest fell 40.1% to 48,886 shares as of August 14, representing approximately 0.1% of MFS Municipal Income Trust’s outstanding shares.
• MFM shares rose 0.6% to $5.40, while the trust announced a $0.03 monthly dividend, equivalent to a stated annualized yield of 6.7%.
• Several institutional investors increased their positions, including Pathstone Holdings, RiverNorth Capital Management, Advisors Asset Management, and Hennion & Walsh Asset Management.

Mfs Muni Inc Tr (NYSE:MFM - Get Free Report) saw a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 48,886 shares, a decline of 40.1% from the July 30th total of 81,585 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 290,362 shares, the short-interest ratio is presently 0.2 days.

Mfs Muni Inc Tr Stock Up 0.6%

Shares of NYSE MFM traded up $0.03 during midday trading on Monday, reaching $5.40. The company's stock had a trading volume of 131,939 shares, compared to its average volume of 160,975. Mfs Muni Inc Tr has a one year low of $5.13 and a one year high of $5.67. The company has a 50 day moving average price of $5.47 and a 200 day moving average price of $5.44.

Mfs Muni Inc Tr Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a $0.03 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date is Monday, August 24th.

Institutional Trading of Mfs Muni Inc Tr

Several large investors have recently added to or reduced their stakes in the company. Pathstone Holdings LLC increased its holdings in shares of Mfs Muni Inc Tr by 46.1% in the 3rd quarter. Pathstone Holdings LLC now owns 3,944,944 shares of the closed-end fund's stock valued at $21,263,000 after purchasing an additional 1,245,143 shares during the period. Rivernorth Capital Management LLC grew its stake in Mfs Muni Inc Tr by 104.0% in the fourth quarter. Rivernorth Capital Management LLC now owns 810,998 shares of the closed-end fund's stock valued at $4,404,000 after purchasing an additional 413,450 shares in the last quarter. Closed End Fund Advisors Inc. acquired a new position in Mfs Muni Inc Tr in the 4th quarter worth about $1,442,000. Advisors Asset Management Inc. increased its position in Mfs Muni Inc Tr by 27.7% in the 4th quarter. Advisors Asset Management Inc. now owns 1,131,102 shares of the closed-end fund's stock worth $6,142,000 after purchasing an additional 245,549 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Mfs Muni Inc Tr by 28.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,024,569 shares of the closed-end fund's stock worth $5,758,000 after purchasing an additional 224,810 shares in the last quarter.

Mfs Muni Inc Tr Company Profile

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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