Rivernorth Capital Management LLC Boosts Stake in Mfs Muni Inc Tr $MFM

Rivernorth Capital Management LLC boosted its holdings in Mfs Muni Inc Tr (NYSE:MFM) by 12.0% during the first quarter, Holdings Channel.com reports. The fund owned 908,050 shares of the closed-end fund’s stock after buying an additional 97,052 shares during the quarter. Rivernorth Capital Management LLC’s holdings in Mfs Muni Inc Tr were worth $4,894,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MFM. Garton & Associates Financial Advisors LLC purchased a new position in shares of Mfs Muni Inc Tr during the fourth quarter worth about $37,000. Beaumont Financial Advisors LLC purchased a new stake in Mfs Muni Inc Tr in the fourth quarter valued at approximately $61,000. Balyasny Asset Management L.P. purchased a new stake in Mfs Muni Inc Tr in the fourth quarter valued at approximately $61,000. Jane Street Group LLC bought a new stake in Mfs Muni Inc Tr during the second quarter valued at approximately $96,000. Finally, Nomura Holdings Inc. purchased a new position in Mfs Muni Inc Tr in the 2nd quarter worth approximately $103,000.

Mfs Muni Inc Tr Price Performance

MFM stock opened at $5.37 on Wednesday. The firm has a 50 day simple moving average of $5.48 and a two-hundred day simple moving average of $5.46. Mfs Muni Inc Tr has a one year low of $5.03 and a one year high of $5.67.

Mfs Muni Inc Tr Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 23rd will be given a $0.03 dividend. The ex-dividend date is Thursday, July 23rd. This represents a c) annualized dividend and a yield of 6.7%.

Mfs Muni Inc Tr Company Profile

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.