Mfs Muni Inc Tr (NYSE:MFM) Stock Passes Above 50-Day Moving Average – What’s Next?

Mfs Muni Inc Tr (NYSE:MFM) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $5.43 and traded as high as $5.56. Mfs Muni Inc Tr shares last traded at $5.5250, with a volume of 28,423 shares traded.

Mfs Muni Inc Tr Price Performance

The stock has a 50 day moving average of $5.43 and a 200 day moving average of $5.34.

Mfs Muni Inc Tr Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.024 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, February 17th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MFM. NWF Advisory Services Inc. acquired a new stake in shares of Mfs Muni Inc Tr in the 2nd quarter valued at $52,000. Beaumont Financial Advisors LLC acquired a new position in shares of Mfs Muni Inc Tr during the 4th quarter worth $61,000. Colonial Trust Advisors bought a new stake in shares of Mfs Muni Inc Tr during the 3rd quarter worth $62,000. World Investment Advisors acquired a new stake in Mfs Muni Inc Tr in the third quarter valued at about $77,000. Finally, Activest Wealth Management bought a new position in Mfs Muni Inc Tr in the third quarter valued at about $80,000.

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.