Short Interest in Mfs Muni Inc Tr (NYSE:MFM) Declines By 42.7%

Key Points

• Short interest fell 42.7% to 81,585 shares as of July 31, representing approximately 0.2% of MFM’s outstanding shares and just 0.3 days of average trading volume.
• MFM shares declined 0.6% to $5.45, trading near the midpoint of their 52-week range of $5.03 to $5.67.
• The trust announced a monthly $0.03 dividend, payable August 31 to shareholders of record August 24, implying an annualized yield of approximately 6.6%.

Mfs Muni Inc Tr (NYSE:MFM - Get Free Report) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totaling 81,585 shares, a decline of 42.7% from the July 15th total of 142,469 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 270,532 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On Mfs Muni Inc Tr

Institutional investors and hedge funds have recently bought and sold shares of the stock. Garton & Associates Financial Advisors LLC bought a new stake in shares of Mfs Muni Inc Tr during the 4th quarter worth about $37,000. Balyasny Asset Management L.P. acquired a new position in shares of Mfs Muni Inc Tr during the fourth quarter valued at approximately $61,000. Jane Street Group LLC acquired a new position in shares of Mfs Muni Inc Tr during the second quarter valued at approximately $96,000. Compound Planning Inc. bought a new stake in Mfs Muni Inc Tr during the fourth quarter worth approximately $106,000. Finally, Nomura Holdings Inc. bought a new stake in Mfs Muni Inc Tr during the second quarter worth approximately $103,000.

Mfs Muni Inc Tr Trading Down 0.6%

MFM stock traded down $0.03 during trading on Monday, reaching $5.45. 45,789 shares of the company's stock were exchanged, compared to its average volume of 157,833. Mfs Muni Inc Tr has a 1-year low of $5.03 and a 1-year high of $5.67. The company's fifty day moving average price is $5.49 and its 200-day moving average price is $5.45.

Mfs Muni Inc Tr Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a yield of 6.6%.

About Mfs Muni Inc Tr

MFS Municipal Income Trust NYSE: MFM is a closed-end management investment company that seeks to provide shareholders with a high level of income exempt from federal income tax. The trust primarily invests in a diversified portfolio of municipal securities, including both general obligation and revenue bonds issued by U.S. states, territories and municipalities. Its shares trade on the New York Stock Exchange, offering investors access to a professionally managed municipal bond portfolio within a single, publicly traded vehicle.

At least 80% of the trust's total assets are allocated to investment-grade municipal debt, with the flexibility to invest up to 20% in non-investment grade or unrated securities when market conditions warrant.

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