Mfs Muni Inc Tr (NYSE:MFM) Short Interest Down 42.7% in July

Mfs Muni Inc Tr (NYSE:MFM) was the target of a large decline in short interest in July. As of July 31st, there was short interest totaling 81,585 shares, a decline of 42.7% from the July 15th total of 142,469 shares. Based on an average daily volume of 270,532 shares, the short-interest ratio is currently 0.3 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Pathstone Holdings LLC lifted its holdings in Mfs Muni Inc Tr by 46.1% during the 3rd quarter. Pathstone Holdings LLC now owns 3,944,944 shares of the closed-end fund’s stock valued at $21,263,000 after purchasing an additional 1,245,143 shares during the last quarter. Rivernorth Capital Management LLC raised its position in shares of Mfs Muni Inc Tr by 104.0% in the fourth quarter. Rivernorth Capital Management LLC now owns 810,998 shares of the closed-end fund’s stock valued at $4,404,000 after purchasing an additional 413,450 shares during the period. Closed End Fund Advisors Inc. acquired a new stake in shares of Mfs Muni Inc Tr during the 4th quarter worth about $1,442,000. Advisors Asset Management Inc. lifted its stake in shares of Mfs Muni Inc Tr by 27.7% during the 4th quarter. Advisors Asset Management Inc. now owns 1,131,102 shares of the closed-end fund’s stock worth $6,142,000 after buying an additional 245,549 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Mfs Muni Inc Tr by 28.1% during 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 buying an additional 224,810 shares during the period.

Mfs Muni Inc Tr Stock Up 0.8%

Shares of MFM opened at $5.45 on Wednesday. Mfs Muni Inc Tr has a twelve month low of $5.03 and a twelve month high of $5.67. The firm’s 50 day moving average price is $5.49 and its two-hundred day moving average price is $5.45.

Mfs Muni Inc Tr Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be paid a dividend of $0.03 per share. This represents a c) annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend is Monday, August 24th.

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.