DWS Municipal Income Trust (NYSE:KTF) Stock Passes Below Two Hundred Day Moving Average - Here's Why

Key Points

• DWS Municipal Income Trust shares fell below their 200-day moving average of $9.03, trading as low as $8.38 before closing near $8.405.
• The trust declared a monthly dividend of $0.061 per share, payable September 30 to shareholders of record on September 23, representing an annualized yield of approximately 8.7%.
• Institutional investors own 57.71% of KTF, with several firms recently increasing their holdings, while the trust primarily invests in U.S. municipal debt to generate federally tax-exempt income.

DWS Municipal Income Trust (NYSE:KTF - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.03 and traded as low as $8.38. DWS Municipal Income Trust shares last traded at $8.4050, with a volume of 191,739 shares.

DWS Municipal Income Trust Trading Up 0.1%

The business has a fifty day simple moving average of $8.87 and a two-hundred day simple moving average of $9.03.

DWS Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd will be paid a dividend of $0.061 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date is Wednesday, September 23rd.

Hedge Funds Weigh In On DWS Municipal Income Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in KTF. Sit Investment Associates Inc. lifted its position in shares of DWS Municipal Income Trust by 0.5% during the fourth quarter. Sit Investment Associates Inc. now owns 9,883,177 shares of the investment management company's stock valued at $89,838,000 after buying an additional 51,032 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of DWS Municipal Income Trust in the 2nd quarter worth approximately $6,781,000. NewEdge Advisors LLC grew its position in shares of DWS Municipal Income Trust by 43.1% in the 1st quarter. NewEdge Advisors LLC now owns 97,961 shares of the investment management company's stock worth $891,000 after buying an additional 29,488 shares during the last quarter. Wedbush Securities Inc. raised its stake in shares of DWS Municipal Income Trust by 21.3% during the 2nd quarter. Wedbush Securities Inc. now owns 93,726 shares of the investment management company's stock worth $862,000 after acquiring an additional 16,482 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its stake in shares of DWS Municipal Income Trust by 50.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 77,850 shares of the investment management company's stock worth $716,000 after acquiring an additional 26,200 shares in the last quarter. Hedge funds and other institutional investors own 57.71% of the company's stock.

About DWS Municipal Income Trust

DWS Municipal Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the ticker symbol KTF. The trust invests primarily in municipal debt securities issued by states, cities, counties, and other governmental entities in the United States.

The fund's objective is to provide current income that is generally exempt from regular federal income tax. Its portfolio may include investment-grade and below-investment-grade municipal obligations, including general obligation bonds, revenue bonds, and other securities used to finance public infrastructure and services.

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