Mfs Muni Inc Tr (NYSE:MFM) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

Mfs Muni Inc Tr (NYSE:MFM) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.45 and traded as low as $5.36. Mfs Muni Inc Tr shares last traded at $5.3650, with a volume of 228,555 shares trading hands.

Mfs Muni Inc Tr Trading Down 0.5%

The business has a fifty day moving average price of $5.49 and a 200 day moving average price of $5.45.

Mfs Muni Inc Tr Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, July 23rd were paid a $0.03 dividend. The ex-dividend date was Thursday, July 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%.

Institutional Trading of Mfs Muni Inc Tr

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Garton & Associates Financial Advisors LLC bought a new position in Mfs Muni Inc Tr during the fourth quarter worth about $37,000. Balyasny Asset Management L.P. acquired a new position in shares of Mfs Muni Inc Tr in the 4th quarter worth approximately $61,000. Jane Street Group LLC acquired a new stake in Mfs Muni Inc Tr in the 2nd quarter valued at $96,000. Compound Planning Inc. bought a new stake in Mfs Muni Inc Tr in the fourth quarter valued at $106,000. Finally, Nomura Holdings Inc. bought a new stake in Mfs Muni Inc Tr in the second quarter valued at $103,000.

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.