Short Interest in Mfs Muni Inc Tr (NYSE:MFM) Increases By 123.2%

Mfs Muni Inc Tr (NYSE:MFM) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 109,125 shares, a growth of 123.2% from the August 15th total of 48,886 shares. Based on an average trading volume of 221,650 shares, the short-interest ratio is presently 0.5 days. Approximately 0.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MFM. Robinson Capital Management LLC lifted its holdings in Mfs Muni Inc Tr by 501.1% during the second quarter. Robinson Capital Management LLC now owns 1,076,957 shares of the closed-end fund’s stock valued at $6,052,000 after purchasing an additional 897,784 shares during the last quarter. Closed End Fund Advisors Inc. purchased a new position in shares of Mfs Muni Inc Tr in the fourth quarter valued at $1,442,000. Hennion & Walsh Asset Management Inc. boosted its stake in Mfs Muni Inc Tr by 28.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,024,569 shares of the closed-end fund’s stock worth $5,758,000 after purchasing an additional 224,810 shares during the period. NewEdge Advisors LLC grew its holdings in Mfs Muni Inc Tr by 103.0% during the 2nd quarter. NewEdge Advisors LLC now owns 320,314 shares of the closed-end fund’s stock valued at $1,800,000 after buying an additional 162,503 shares in the last quarter. Finally, Rivernorth Capital Management LLC grew 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 valued at $4,894,000 after buying an additional 97,052 shares in the last quarter.

Mfs Muni Inc Tr Trading Down 0.4%

Shares of MFM stock traded down $0.02 during trading hours on Tuesday, hitting $5.11. 488,768 shares of the company were exchanged, compared to its average volume of 172,749. The firm has a fifty day simple moving average of $5.40 and a 200 day simple moving average of $5.42. Mfs Muni Inc Tr has a 52-week low of $5.09 and a 52-week high of $5.67.

Mfs Muni Inc Tr Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd will be given a $0.03 dividend. This represents a c) dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Tuesday, September 22nd.

About Mfs Muni Inc Tr

MFS Municipal Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol MFM. The fund seeks to provide current income that is exempt from federal income tax by investing primarily in municipal bonds and other municipal securities.

The trust’s portfolio may include obligations issued by states, municipalities and other governmental entities, as well as securities issued to finance public infrastructure and essential services. Its investments generally span municipal issuers across the United States, with portfolio composition and geographic exposure changing over time based on market conditions and the fund’s investment strategy.

MFS Municipal Income Trust is managed by MFS Investment Management, an investment management firm that provides portfolio management and related services to mutual funds, closed-end funds and other institutional and individual investors.