Mfs Muni Inc Tr (NYSE:MFM) Stock Short Interest Report for September

Key Points

• Short interest surged 607% to 213,440 shares as of September 30, representing approximately 0.5% of MFM’s outstanding stock. The short-interest ratio stood at 0.3 days based on average daily trading volume.
• MFM shares rose 0.6% to $4.96, trading between a 52-week range of $4.75 to $5.67. The trust also paid a monthly dividend of $0.03 per share, equivalent to a 7.3% annualized yield.
• Several institutional investors increased their positions, including Robinson Capital Management, which raised its holdings by 501.1%, and NewEdge Advisors, which boosted its stake by 103.0%.

Mfs Muni Inc Tr (NYSE:MFM - Get Free Report) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totaling 213,440 shares, an increase of 607.0% from the September 15th total of 30,188 shares. Approximately 0.5% of the company's stock are sold short. Based on an average daily trading volume, of 681,546 shares, the short-interest ratio is currently 0.3 days.

Mfs Muni Inc Tr Trading Up 0.6%

Shares of NYSE:MFM traded up $0.03 during trading on Friday, reaching $4.96. 341,289 shares of the stock traded hands, compared to its average volume of 647,390. The stock has a 50-day moving average of $5.21 and a two-hundred day moving average of $5.36. Mfs Muni Inc Tr has a 52-week low of $4.75 and a 52-week high of $5.67.

Mfs Muni Inc Tr Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd were paid a dividend of $0.03 per share. This represents a $0.36 annualized dividend and a yield of 7.3%. The ex-dividend date was Tuesday, September 22nd.

Institutional Trading of Mfs Muni Inc Tr

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its holdings in Mfs Muni Inc Tr by 1.1% in the 1st quarter. Bank of America Corp DE now owns 1,605,668 shares of the closed-end fund's stock worth $8,655,000 after buying an additional 18,174 shares in the last quarter. Robinson Capital Management LLC raised its position in Mfs Muni Inc Tr by 501.1% in the 2nd quarter. Robinson Capital Management LLC now owns 1,076,957 shares of the closed-end fund's stock worth $6,052,000 after buying an additional 897,784 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in 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 valued at $5,758,000 after acquiring an additional 224,810 shares during the period. Rivernorth Capital Management LLC lifted its stake in Mfs Muni Inc Tr by 12.0% during the 1st quarter. Rivernorth Capital Management LLC now owns 908,050 shares of the closed-end fund's stock valued at $4,894,000 after acquiring an additional 97,052 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Mfs Muni Inc Tr by 103.0% during the 2nd quarter. NewEdge Advisors LLC now owns 320,314 shares of the closed-end fund's stock valued at $1,800,000 after acquiring an additional 162,503 shares during the last quarter.

Mfs Muni Inc Tr Company Profile

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

The portfolio may include obligations issued by states, municipalities, and other public entities across the United States. These securities generally finance public infrastructure and essential services, such as schools, transportation systems, utilities, hospitals, and other community projects.

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