Mfs Muni Inc Tr (NYSE:MFM) Stock Passes Above Fifty Day Moving Average – Should You Sell?

Mfs Muni Inc Tr (NYSE:MFM) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.42 and traded as high as $5.52. Mfs Muni Inc Tr shares last traded at $5.4920, with a volume of 273,780 shares.

Mfs Muni Inc Tr Price Performance

The firm has a 50-day moving average price of $5.42 and a 200-day moving average price of $5.43.

Mfs Muni Inc Tr Dividend Announcement

The company also recently announced a special dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Monday, June 29th will be issued a $0.024 dividend. The ex-dividend date of this dividend is Monday, June 29th.

Institutional Investors Weigh In On Mfs Muni Inc Tr

A number of institutional investors have recently made changes to their positions in the company. Thomas J. Herzfeld Advisors Inc. raised its holdings in Mfs Muni Inc Tr by 1.5% in the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 137,475 shares of the closed-end fund’s stock worth $746,000 after acquiring an additional 2,078 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Mfs Muni Inc Tr by 14.5% in the second quarter. Baird Financial Group Inc. now owns 23,676 shares of the closed-end fund’s stock worth $122,000 after purchasing an additional 3,000 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Mfs Muni Inc Tr by 17.2% in the fourth quarter. HighTower Advisors LLC now owns 32,427 shares of the closed-end fund’s stock worth $176,000 after purchasing an additional 4,759 shares during the last quarter. Balanced Wealth Group LLC lifted its holdings in shares of Mfs Muni Inc Tr by 2.6% during the first quarter. Balanced Wealth Group LLC now owns 195,055 shares of the closed-end fund’s stock valued at $1,051,000 after purchasing an additional 4,883 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Mfs Muni Inc Tr by 22.4% during the first quarter. Cetera Investment Advisers now owns 34,303 shares of the closed-end fund’s stock valued at $185,000 after purchasing an additional 6,268 shares in the last quarter.

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.