Short Interest in Mfs Muni Inc Tr (NYSE:MFM) Drops By 36.5%

Mfs Muni Inc Tr (NYSE:MFM) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totaling 171,611 shares, a drop of 36.5% from the June 15th total of 270,174 shares. Based on an average trading volume of 257,046 shares, the short-interest ratio is presently 0.7 days. Currently, 0.4% of the company’s stock are short sold.

Mfs Muni Inc Tr Price Performance

NYSE MFM traded down $0.01 during trading on Friday, reaching $5.56. The company’s stock had a trading volume of 68,289 shares, compared to its average volume of 138,340. Mfs Muni Inc Tr has a 1-year low of $5.03 and a 1-year high of $5.67. The business has a 50-day moving average price of $5.48 and a 200-day moving average price of $5.45.

Mfs Muni Inc Tr Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 23rd will be paid a $0.03 dividend. The ex-dividend date is Thursday, July 23rd. This represents a c) dividend on an annualized basis and a yield of 6.5%.

Institutional Investors Weigh In On Mfs Muni Inc Tr

Hedge funds have recently bought and sold shares of the company. Wealthcare Advisory Partners LLC increased its stake in shares of Mfs Muni Inc Tr by 12.4% in the second quarter. Wealthcare Advisory Partners LLC now owns 30,606 shares of the closed-end fund’s stock worth $172,000 after purchasing an additional 3,376 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in Mfs Muni Inc Tr by 28.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,024,569 shares of the closed-end fund’s stock worth $5,758,000 after buying an additional 224,810 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Mfs Muni Inc Tr by 12.2% during the first quarter. NewEdge Advisors LLC now owns 157,811 shares of the closed-end fund’s stock worth $851,000 after buying an additional 17,153 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Mfs Muni Inc Tr by 1.1% during the first quarter. Bank of America Corp DE now owns 1,605,668 shares of the closed-end fund’s stock worth $8,655,000 after buying an additional 18,174 shares during the last quarter. Finally, Rivernorth Capital Management LLC boosted its position in shares of Mfs Muni Inc Tr by 12.0% in the first quarter. Rivernorth Capital Management LLC now owns 908,050 shares of the closed-end fund’s stock valued at $4,894,000 after acquiring an additional 97,052 shares during the period.

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.