Eaton Vance Municipal Income Trust (NYSE:EVN) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• EVN shares moved above their 200-day moving average, reaching $10.80 before last trading at $10.7450, while the 200-day average stood at $10.77.
• The trust declared a monthly dividend of $0.0513 per share, equating to an annualized yield of approximately 5.7%.
• Several institutional investors increased or initiated positions in EVN, including Royal Bank of Canada, NewEdge Advisors, Baird Financial Group, StoneX Group and Cary Street Partners.

Eaton Vance Municipal Income Trust (NYSE:EVN - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.77 and traded as high as $10.80. Eaton Vance Municipal Income Trust shares last traded at $10.7450, with a volume of 74,665 shares.

Eaton Vance Municipal Income Trust Trading Up 0.1%

The business has a 50-day simple moving average of $10.87 and a 200-day simple moving average of $10.77.

Eaton Vance Municipal Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Thursday, August 13th will be issued a $0.0513 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) annualized dividend and a yield of 5.7%.

Institutional Investors Weigh In On Eaton Vance Municipal Income Trust

A number of hedge funds have recently made changes to their positions in EVN. Royal Bank of Canada lifted its position in Eaton Vance Municipal Income Trust by 5.1% during the 1st quarter. Royal Bank of Canada now owns 93,673 shares of the investment management company's stock worth $961,000 after buying an additional 4,582 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Eaton Vance Municipal Income Trust by 12.9% during the first quarter. NewEdge Advisors LLC now owns 50,006 shares of the investment management company's stock worth $513,000 after purchasing an additional 5,711 shares during the period. Baird Financial Group Inc. grew its position in shares of Eaton Vance Municipal Income Trust by 43.5% during the 2nd quarter. Baird Financial Group Inc. now owns 65,615 shares of the investment management company's stock worth $671,000 after buying an additional 19,881 shares during the period. StoneX Group Inc. bought a new stake in Eaton Vance Municipal Income Trust in the second quarter valued at approximately $180,000. Finally, Cary Street Partners Financial LLC bought a new stake in shares of Eaton Vance Municipal Income Trust in the 2nd quarter valued at $160,000.

Eaton Vance Municipal Income Trust Company Profile

Eaton Vance Municipal Income Trust NYSE: EVN is a closed-end management investment company that seeks to provide shareholders with current income exempt from federal income taxes. The trust primarily invests in investment-grade municipal securities issued by U.S. state and local governments, authorities and agencies. By focusing on tax-exempt income, EVN aims to deliver attractive after-tax yields to individual and institutional investors.

The fund's portfolio is diversified across sectors such as general obligation bonds, revenue bonds, essential service issuers and housing finance agencies.

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