Mfs Muni Inc Tr (NYSE:MFM) Sees Large Drop in Short Interest

Mfs Muni Inc Tr (NYSE:MFM) was the recipient of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totaling 171,611 shares, a decrease of 36.5% from the June 15th total of 270,174 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 257,046 shares, the days-to-cover ratio is presently 0.7 days.

Mfs Muni Inc Tr Stock Down 0.1%

NYSE MFM traded down $0.01 during trading on Friday, reaching $5.57. 162,492 shares of the company’s stock were exchanged, compared to its average volume of 223,643. The company has a 50 day moving average price of $5.48 and a two-hundred day moving average price of $5.45. Mfs Muni Inc Tr has a 1 year low of $5.03 and a 1 year high of $5.67.

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 6.5%. The ex-dividend date of this dividend is Thursday, July 23rd.

Hedge Funds Weigh In On Mfs Muni Inc Tr

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Garton & Associates Financial Advisors LLC acquired a new stake in Mfs Muni Inc Tr during the fourth quarter worth approximately $37,000. Beaumont Financial Advisors LLC acquired 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 shares of Mfs Muni Inc Tr in the 4th quarter valued at $61,000. Jane Street Group LLC purchased a new position in shares of Mfs Muni Inc Tr in the 2nd quarter valued at $96,000. Finally, Nomura Holdings Inc. acquired a new stake in Mfs Muni Inc Tr during the 2nd quarter worth $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.