Mfs Muni Inc Tr (NYSE:MFM) Stock Price Crosses Above Fifty Day Moving Average – Time to Sell?

Shares of Mfs Muni Inc Tr (NYSE:MFM) passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $5.12 and traded as high as $5.19. Mfs Muni Inc Tr shares last traded at $5.1650, with a volume of 237,989 shares changing hands.

Mfs Muni Inc Tr Trading Up 1.3%

The stock’s 50-day simple moving average is $5.11 and its 200 day simple moving average is $5.36.

Mfs Muni Inc Tr Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be given a dividend of $0.03 per share. The ex-dividend date is Friday, October 23rd. This represents a $0.36 annualized dividend and a dividend yield of 7.0%.

Institutional Investors Weigh In On Mfs Muni Inc Tr

Large investors have recently added to or reduced their stakes in the business. Aviance Capital Partners LLC boosted its stake in Mfs Muni Inc Tr by 7.1% during the third quarter. Aviance Capital Partners LLC now owns 47,695 shares of the closed-end fund’s stock worth $231,000 after acquiring an additional 3,160 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Mfs Muni Inc Tr by 1.6% in the third quarter. Park Avenue Securities LLC now owns 133,587 shares of the closed-end fund’s stock worth $648,000 after purchasing an additional 2,150 shares during the period. Apollon Wealth Management LLC increased its stake in Mfs Muni Inc Tr by 227.2% in the third quarter. Apollon Wealth Management LLC now owns 93,762 shares of the closed-end fund’s stock valued at $455,000 after purchasing an additional 65,105 shares in the last quarter. Capital Investment Advisors LLC increased its stake in Mfs Muni Inc Tr by 41.5% in the third quarter. Capital Investment Advisors LLC now owns 272,428 shares of the closed-end fund’s stock valued at $1,321,000 after purchasing an additional 79,857 shares in the last quarter. Finally, River Street Advisors LLC bought a new stake in Mfs Muni Inc Tr in the third quarter valued at $155,000.

About Mfs Muni Inc Tr

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 regular federal income tax by investing primarily in municipal securities issued by states, municipalities and other public entities in the United States.

Its portfolio may include bonds financing public infrastructure and essential services, such as education, transportation, utilities, health care and other governmental projects.