Hennion & Walsh Asset Management Inc. Purchases 224,810 Shares of Mfs Muni Inc Tr $MFM

Hennion & Walsh Asset Management Inc. lifted its position in shares of Mfs Muni Inc Tr (NYSE:MFM) by 28.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,024,569 shares of the closed-end fund’s stock after buying an additional 224,810 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Mfs Muni Inc Tr were worth $5,758,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MFM. Royal Bank of Canada lifted its position in Mfs Muni Inc Tr by 21.5% in the 1st quarter. Royal Bank of Canada now owns 55,989 shares of the closed-end fund’s stock valued at $297,000 after acquiring an additional 9,900 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Mfs Muni Inc Tr by 35.3% in the 1st quarter. NewEdge Advisors LLC now owns 77,049 shares of the closed-end fund’s stock worth $408,000 after purchasing an additional 20,118 shares in the last quarter. Invesco Ltd. raised its stake in shares of Mfs Muni Inc Tr by 32.4% in the second quarter. Invesco Ltd. now owns 423,411 shares of the closed-end fund’s stock worth $2,189,000 after purchasing an additional 103,601 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Mfs Muni Inc Tr by 14.5% in the second quarter. Baird Financial Group Inc. now owns 23,676 shares of the closed-end fund’s stock worth $122,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in shares of Mfs Muni Inc Tr by 4.4% during the second quarter. Raymond James Financial Inc. now owns 197,612 shares of the closed-end fund’s stock valued at $1,022,000 after purchasing an additional 8,319 shares in the last quarter.

Mfs Muni Inc Tr Price Performance

Mfs Muni Inc Tr stock opened at $5.44 on Monday. Mfs Muni Inc Tr has a one year low of $5.03 and a one year high of $5.67. The business’s fifty day moving average is $5.49 and its 200 day moving average is $5.45.

Mfs Muni Inc Tr Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 23rd were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, July 23rd. This represents a c) annualized dividend and a yield of 6.6%.

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.