Robinson Capital Management LLC Buys 897,784 Shares of Mfs Muni Inc Tr $MFM

Robinson Capital Management LLC grew its stake in Mfs Muni Inc Tr (NYSE:MFM) by 501.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,076,957 shares of the closed-end fund’s stock after buying an additional 897,784 shares during the period. Mfs Muni Inc Tr makes up 2.7% of Robinson Capital Management LLC’s investment portfolio, making the stock its 13th biggest position. Robinson Capital Management LLC’s holdings in Mfs Muni Inc Tr were worth $6,052,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MFM. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Mfs Muni Inc Tr by 28.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,024,569 shares of the closed-end fund’s stock worth $5,758,000 after acquiring an additional 224,810 shares during the period. Closed End Fund Advisors Inc. acquired a new stake in Mfs Muni Inc Tr during the 4th quarter valued at approximately $1,442,000. Rivernorth Capital Management LLC raised its holdings in Mfs Muni Inc Tr by 12.0% during the 1st quarter. Rivernorth Capital Management LLC now owns 908,050 shares of the closed-end fund’s stock worth $4,894,000 after purchasing an additional 97,052 shares during the last quarter. Cetera Investment Advisers raised its holdings in Mfs Muni Inc Tr by 22.4% during the 1st quarter. Cetera Investment Advisers now owns 34,303 shares of the closed-end fund’s stock worth $185,000 after purchasing an additional 6,268 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Mfs Muni Inc Tr by 23.3% in the 1st quarter. Royal Bank of Canada now owns 128,209 shares of the closed-end fund’s stock worth $691,000 after purchasing an additional 24,243 shares during the period.

Mfs Muni Inc Tr Stock Down 1.0%

NYSE:MFM opened at $5.21 on Thursday. The firm’s fifty day moving average is $5.43 and its 200-day moving average is $5.43. Mfs Muni Inc Tr has a 52 week low of $5.20 and a 52 week high of $5.67.

Mfs Muni Inc Tr Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were issued a $0.03 dividend. The ex-dividend date was Monday, August 24th. This represents a c) annualized dividend and a yield of 6.9%.

Mfs Muni Inc Tr 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.