Mfs Muni Inc Tr (NYSE:MFM) Sees Significant Increase in Short Interest

Mfs Muni Inc Tr (NYSE:MFM) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 270,174 shares, an increase of 439.9% from the May 31st total of 50,040 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 236,451 shares, the short-interest ratio is currently 1.1 days.

Hedge Funds Weigh In On Mfs Muni Inc Tr

A number of institutional investors and hedge funds have recently modified their holdings of MFM. Garton & Associates Financial Advisors LLC purchased a new position in shares of Mfs Muni Inc Tr during the 4th quarter worth approximately $37,000. Beaumont Financial Advisors LLC bought a new stake in Mfs Muni Inc Tr in the fourth quarter valued at $61,000. Balyasny Asset Management L.P. acquired a new position in Mfs Muni Inc Tr during the 4th quarter worth $61,000. Jane Street Group LLC acquired a new stake in shares of Mfs Muni Inc Tr during the 2nd quarter valued at $96,000. Finally, Compound Planning Inc. purchased a new stake in shares of Mfs Muni Inc Tr in the fourth quarter valued at $106,000.

Mfs Muni Inc Tr Trading Up 0.3%

MFM stock traded up $0.01 during midday trading on Friday, reaching $5.54. 235,621 shares of the company traded hands, compared to its average volume of 218,438. Mfs Muni Inc Tr has a 52-week low of $5.03 and a 52-week high of $5.67. The business has a 50 day moving average of $5.43 and a 200-day moving average of $5.43.

Mfs Muni Inc Tr Dividend Announcement

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

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.