Mfs Muni Inc Tr (NYSE:MFM) Sees Significant Decrease in Short Interest

Mfs Muni Inc Tr (NYSE:MFM) was the target of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 48,886 shares, a decline of 40.1% from the July 30th total of 81,585 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 290,362 shares, the days-to-cover ratio is currently 0.2 days.

Mfs Muni Inc Tr Stock Performance

Shares of MFM stock remained flat at $5.34 on Wednesday. The stock had a trading volume of 220,490 shares, compared to its average volume of 164,599. Mfs Muni Inc Tr has a twelve month low of $5.13 and a twelve month high of $5.67. The company has a 50-day moving average of $5.47 and a 200 day moving average of $5.44.

Mfs Muni Inc Tr Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were paid a $0.03 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date was Monday, August 24th.

Institutional Investors Weigh In On Mfs Muni Inc Tr

Several large investors have recently made changes to their positions in MFM. Garton & Associates Financial Advisors LLC bought a new stake in Mfs Muni Inc Tr during the 4th quarter worth about $37,000. Fortitude Advisory Group L.L.C. bought a new stake in Mfs Muni Inc Tr during the second quarter worth about $59,000. Balyasny Asset Management L.P. acquired a new stake in Mfs Muni Inc Tr in the 4th quarter valued at about $61,000. 1607 Capital Partners LLC acquired a new stake in shares of Mfs Muni Inc Tr during the 2nd quarter worth about $154,000. Finally, Concurrent Investment Advisors LLC bought a new stake in Mfs Muni Inc Tr in the 2nd quarter valued at $81,000.

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.