Short Interest in Eaton Vance Municipal Income Trust (NYSE:EVN) Rises By 114.4%

Key Points

• Short interest more than doubled: Shares sold short rose 114.4% to 162,322 as of August 31, representing about 0.4% of EVN’s outstanding stock and 2.3 days of average trading volume.
• EVN shares edged lower: The fund traded down 0.4% to $10.38, compared with a 12-month range of $10.09 to $11.26.
• Monthly dividend declared: Eaton Vance Municipal Income Trust announced a $0.0513-per-share dividend, implying a 5.9% annualized yield, payable September 24 to shareholders of record September 14.

Eaton Vance Municipal Income Trust (NYSE:EVN - Get Free Report) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 162,322 shares, an increase of 114.4% from the August 15th total of 75,709 shares. Based on an average daily volume of 70,560 shares, the short-interest ratio is presently 2.3 days. Approximately 0.4% of the company's stock are sold short.

Eaton Vance Municipal Income Trust Stock Down 0.4%

NYSE:EVN traded down $0.04 on Monday, reaching $10.38. 33,590 shares of the stock traded hands, compared to its average volume of 77,084. Eaton Vance Municipal Income Trust has a 12 month low of $10.09 and a 12 month high of $11.26. The company's fifty day simple moving average is $10.74 and its 200 day simple moving average is $10.73.

Eaton Vance Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Monday, September 14th will be issued a dividend of $0.0513 per share. The ex-dividend date is Monday, September 14th. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%.

Hedge Funds Weigh In On Eaton Vance Municipal Income Trust

A number of hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new stake in Eaton Vance Municipal Income Trust during the 2nd quarter valued at $28,000. First Trust Advisors LP purchased a new position in shares of Eaton Vance Municipal Income Trust in the first quarter worth $105,000. Glen Eagle Advisors LLC bought a new position in shares of Eaton Vance Municipal Income Trust during the fourth quarter valued at $111,000. &PARTNERS bought a new position in shares of Eaton Vance Municipal Income Trust during the fourth quarter valued at $142,000. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of Eaton Vance Municipal Income Trust during the second quarter valued at $160,000.

Eaton Vance Municipal Income Trust Company Profile

Eaton Vance Municipal Income Trust NYSE: EVN is a closed-end investment fund that seeks to provide current income exempt from regular federal income tax. The trust invests primarily in municipal securities issued by states, municipalities, and other public authorities in the United States.

Its portfolio may include general obligation bonds, revenue bonds, and other tax-exempt municipal obligations. These securities can help finance public projects and essential services such as education, transportation, utilities, health care, and housing.

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