Mfs Muni Inc Tr (NYSE:MFM) Share Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Mfs Muni Inc Tr (NYSE:MFM) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.46 and traded as low as $5.35. Mfs Muni Inc Tr shares last traded at $5.37, with a volume of 209,484 shares trading hands.

Mfs Muni Inc Tr Trading Up 0.5%

The company has a fifty day moving average price of $5.48 and a 200-day moving average price of $5.46.

Mfs Muni Inc Tr Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 23rd will be given a dividend of $0.03 per share. This represents a c) annualized dividend and a dividend yield of 6.7%. The ex-dividend date is Thursday, July 23rd.

Institutional Trading of Mfs Muni Inc Tr

Institutional investors have recently bought and sold shares of the stock. Garton & Associates Financial Advisors LLC bought a new stake in Mfs Muni Inc Tr in the fourth quarter worth about $37,000. Beaumont Financial Advisors LLC purchased a new position in shares of Mfs Muni Inc Tr in the 4th quarter valued at $61,000. Balyasny Asset Management L.P. purchased a new position in Mfs Muni Inc Tr in the fourth quarter valued at about $61,000. Jane Street Group LLC purchased a new position in shares of Mfs Muni Inc Tr in the 2nd quarter worth approximately $96,000. Finally, Nomura Holdings Inc. purchased a new stake in Mfs Muni Inc Tr during the second quarter valued at approximately $103,000.

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.