Mfs Muni Inc Tr (NYSE:MFM) Sees Large Growth in Short Interest

Mfs Muni Inc Tr (NYSE:MFM) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 213,440 shares, a growth of 607.0% from the September 15th total of 30,188 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average trading volume of 681,546 shares, the short-interest ratio is currently 0.3 days.

Mfs Muni Inc Tr Stock Up 0.6%

Shares of MFM stock traded up $0.03 during trading hours on Friday, reaching $4.96. The stock had a trading volume of 341,289 shares, compared to its average volume of 641,364. The firm has a 50-day simple moving average of $5.21 and a 200-day simple moving average of $5.36. Mfs Muni Inc Tr has a twelve month low of $4.75 and a twelve month high of $5.67.

Mfs Muni Inc Tr Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd were given a $0.03 dividend. The ex-dividend date was Tuesday, September 22nd. This represents a $0.36 annualized dividend and a yield of 7.3%.

Institutional Investors Weigh In On Mfs Muni Inc Tr

A number of hedge funds have recently made changes to their positions in the business. Allworth Financial LP boosted its position in shares of Mfs Muni Inc Tr by 1,220.8% during the second quarter. Allworth Financial LP now owns 9,602 shares of the closed-end fund’s stock worth $54,000 after buying an additional 8,875 shares during the period. Fortitude Advisory Group L.L.C. acquired a new stake in Mfs Muni Inc Tr in the 2nd quarter valued at approximately $59,000. Concurrent Investment Advisors LLC bought a new stake in Mfs Muni Inc Tr during the 2nd quarter valued at $81,000. 1607 Capital Partners LLC bought a new stake in Mfs Muni Inc Tr during the 2nd quarter valued at $154,000. Finally, Wealthcare Advisory Partners LLC raised its stake in Mfs Muni Inc Tr by 12.4% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 30,606 shares of the closed-end fund’s stock valued at $172,000 after acquiring an additional 3,376 shares in the last quarter.

About Mfs Muni Inc Tr

MFS Muni Inc Tr, also known as MFS Municipal Income Trust, is a closed-end investment company listed on the New York Stock Exchange under the symbol MFM. The trust seeks to provide current income that is exempt from federal income tax by investing primarily in municipal bonds and other municipal securities.

The portfolio may include obligations issued by states, municipalities, and other public entities across the United States. These securities generally finance public infrastructure and essential services, such as schools, transportation systems, utilities, hospitals, and other community projects.