Mfs Muni Inc Tr (NYSE:MFM) Shares Shorted: Short Interest Down 72.3% in September

Key Points

• Short interest fell 72.3% to 30,188 shares as of September 15, down from 109,125 shares at the end of August. Short interest represents about 0.1% of MFM’s outstanding shares, with a short-interest ratio of 0.1 days.
• Several institutional investors increased or initiated positions in MFS Municipal Income Trust during the second quarter, including Allworth Financial, which raised its stake by 1,220.8%, and Wealthcare Advisory Partners, which increased its position by 12.4%.
• MFM shares opened at $4.91, near their 12-month low of $4.90. The closed-end municipal bond fund declared a monthly $0.03 dividend, equivalent to a $0.36 annualized payout and a 7.3% yield.

Mfs Muni Inc Tr (NYSE:MFM - Get Free Report) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totaling 30,188 shares, a decrease of 72.3% from the August 31st total of 109,125 shares. Based on an average trading volume of 341,484 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the company's stock are sold short.

Hedge Funds Weigh In On Mfs Muni Inc Tr

Hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in shares of Mfs Muni Inc Tr by 1,220.8% in the second quarter. Allworth Financial LP now owns 9,602 shares of the closed-end fund's stock worth $54,000 after purchasing an additional 8,875 shares during the last quarter. Fortitude Advisory Group L.L.C. purchased a new stake in shares of Mfs Muni Inc Tr during the 2nd quarter valued at about $59,000. 1607 Capital Partners LLC purchased a new position in shares of Mfs Muni Inc Tr during the second quarter valued at approximately $154,000. Concurrent Investment Advisors LLC purchased a new stake in Mfs Muni Inc Tr in the second quarter worth approximately $81,000. Finally, Wealthcare Advisory Partners LLC grew its position in Mfs Muni Inc Tr by 12.4% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 30,606 shares of the closed-end fund's stock worth $172,000 after purchasing an additional 3,376 shares during the period.

Mfs Muni Inc Tr Price Performance

Shares of Mfs Muni Inc Tr stock opened at $4.91 on Friday. The business has a fifty day simple moving average of $5.31 and a two-hundred day simple moving average of $5.39. Mfs Muni Inc Tr has a 12 month low of $4.90 and a 12 month high of $5.67.

Mfs Muni Inc Tr Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be given a $0.03 dividend. This represents a $0.36 annualized dividend and a dividend yield of 7.3%. The ex-dividend date of this dividend is Tuesday, September 22nd.

Mfs Muni Inc Tr Company Profile

MFS Municipal Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol MFM. The fund seeks to provide current income that is exempt from federal income tax by investing primarily in municipal bonds and other municipal securities.

The trust's portfolio may include obligations issued by states, municipalities and other governmental entities, as well as securities issued to finance public infrastructure and essential services. Its investments generally span municipal issuers across the United States, with portfolio composition and geographic exposure changing over time based on market conditions and the fund's investment strategy.

MFS Municipal Income Trust is managed by MFS Investment Management, an investment management firm that provides portfolio management and related services to mutual funds, closed-end funds and other institutional and individual investors.

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