Saba Capital Management L.P. decreased its holdings in MFS Municipal Income Trust (NYSE:MFM - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 683,746 shares of the closed-end fund's stock after selling 234,568 shares during the quarter. Saba Capital Management L.P.'s holdings in MFS Municipal Income Trust were worth $3,658,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Park Avenue Securities LLC raised its stake in shares of MFS Municipal Income Trust by 7.2% in the 4th quarter. Park Avenue Securities LLC now owns 134,564 shares of the closed-end fund's stock valued at $720,000 after purchasing an additional 8,993 shares in the last quarter. Wealthcare Advisory Partners LLC grew its stake in MFS Municipal Income Trust by 49.4% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 27,230 shares of the closed-end fund's stock worth $146,000 after purchasing an additional 9,000 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in MFS Municipal Income Trust by 6.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 573,615 shares of the closed-end fund's stock valued at $3,069,000 after buying an additional 36,785 shares during the last quarter. Choreo LLC raised its stake in MFS Municipal Income Trust by 9.0% during the fourth quarter. Choreo LLC now owns 98,145 shares of the closed-end fund's stock valued at $524,000 after buying an additional 8,079 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in MFS Municipal Income Trust by 4.5% during the fourth quarter. Van ECK Associates Corp now owns 346,432 shares of the closed-end fund's stock valued at $1,853,000 after buying an additional 15,058 shares in the last quarter.
MFS Municipal Income Trust Price Performance
Shares of MFM traded down $0.01 during mid-day trading on Thursday, hitting $5.09. The stock had a trading volume of 78,660 shares, compared to its average volume of 108,207. MFS Municipal Income Trust has a fifty-two week low of $4.94 and a fifty-two week high of $5.78. The company's fifty day simple moving average is $5.19 and its two-hundred day simple moving average is $5.38.
MFS Municipal Income Trust Increases Dividend
The company also recently disclosed a monthly dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 13th will be paid a dividend of $0.022 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This is a boost from MFS Municipal Income Trust's previous monthly dividend of $0.02. This represents a $0.26 annualized dividend and a yield of 5.19%.
MFS Municipal Income Trust Company Profile
(
Free Report)
MFS Municipal Income Trust is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets of the United States. It primarily invests in tax-exempt bonds and tax-exempt notes. The fund benchmarks the performance of its portfolio against Barclays Municipal Bond Index.
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