Mfs Muni Inc Tr (NYSE:MFM) Share Price Passes Above 50-Day Moving Average – Should You Sell?

Mfs Muni Inc Tr (NYSE:MFM) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $5.43 and traded as high as $5.56. Mfs Muni Inc Tr shares last traded at $5.5250, with a volume of 28,423 shares changing hands.

Mfs Muni Inc Tr Price Performance

The business has a fifty day simple moving average of $5.43 and a 200-day simple moving average of $5.34.

Mfs Muni Inc Tr Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be paid a $0.024 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a c) annualized dividend and a dividend yield of 5.2%.

Institutional Investors Weigh In On Mfs Muni Inc Tr

A number of institutional investors have recently added to or reduced their stakes in MFM. Pathstone Holdings LLC raised its stake in shares of Mfs Muni Inc Tr by 46.1% during the third quarter. Pathstone Holdings LLC now owns 3,944,944 shares of the closed-end fund’s stock valued at $21,263,000 after acquiring an additional 1,245,143 shares during the last quarter. UBS Group AG increased its holdings in Mfs Muni Inc Tr by 2.2% in the fourth quarter. UBS Group AG now owns 1,165,389 shares of the closed-end fund’s stock valued at $6,328,000 after purchasing an additional 24,937 shares during the period. Guggenheim Capital LLC raised its position in Mfs Muni Inc Tr by 10.9% during the 2nd quarter. Guggenheim Capital LLC now owns 967,358 shares of the closed-end fund’s stock worth $5,001,000 after purchasing an additional 95,163 shares during the last quarter. Advisors Asset Management Inc. raised its position in Mfs Muni Inc Tr by 1.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 885,553 shares of the closed-end fund’s stock worth $4,773,000 after purchasing an additional 12,407 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Mfs Muni Inc Tr by 7.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 712,453 shares of the closed-end fund’s stock worth $3,869,000 after buying an additional 47,824 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.