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

Mfs Muni Inc Tr (NYSE:MFM) shares crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $5.49 and traded as low as $5.47. Mfs Muni Inc Tr shares last traded at $5.49, with a volume of 22,421 shares.

Mfs Muni Inc Tr Trading Up 0.4%

The stock’s fifty day moving average price is $5.49 and its 200 day moving average price is $5.40.

Mfs Muni Inc Tr Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.024 dividend. The ex-dividend date is Tuesday, March 17th. This represents a c) annualized dividend and a dividend yield of 5.2%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Garton & Associates Financial Advisors LLC bought a new stake in Mfs Muni Inc Tr in the fourth quarter worth $37,000. NWF Advisory Services Inc. purchased a new position in shares of Mfs Muni Inc Tr in the 2nd quarter worth about $52,000. Beaumont Financial Advisors LLC purchased a new stake in Mfs Muni Inc Tr during the 4th quarter valued at about $61,000. Balyasny Asset Management L.P. purchased a new stake in Mfs Muni Inc Tr during the 4th quarter valued at about $61,000. Finally, Colonial Trust Advisors bought a new stake in Mfs Muni Inc Tr during the 3rd quarter valued at about $62,000.

About Mfs Muni Inc Tr

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.