Mfs Muni Inc Tr (NYSE:MFM) Shares Shorted: Short Interest Down 51.6% in October

Mfs Muni Inc Tr (NYSE:MFM) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 103,326 shares, a decrease of 51.6% from the September 30th total of 213,440 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average trading volume of 605,306 shares, the short-interest ratio is currently 0.2 days.

Mfs Muni Inc Tr Stock Performance

Shares of NYSE MFM traded up $0.02 during midday trading on Friday, hitting $5.19. 290,044 shares of the company’s stock were exchanged, compared to its average volume of 527,344. Mfs Muni Inc Tr has a twelve month low of $4.75 and a twelve month high of $5.67. The stock’s 50 day moving average price is $5.10 and its 200-day moving average price is $5.36.

Mfs Muni Inc Tr Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Friday, October 23rd were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, October 23rd. This represents a $0.36 annualized dividend and a yield of 6.9%.

Hedge Funds Weigh In On Mfs Muni Inc Tr

Several hedge funds have recently modified their holdings of MFM. Allworth Financial LP boosted its stake in Mfs Muni Inc Tr by 1,220.8% during the second quarter. Allworth Financial LP now owns 9,602 shares of the closed-end fund’s stock valued at $54,000 after buying an additional 8,875 shares in the last quarter. Fortitude Advisory Group L.L.C. acquired a new position in shares of Mfs Muni Inc Tr in the 2nd quarter valued at about $59,000. Avior Wealth Management LLC acquired a new stake in Mfs Muni Inc Tr during the third quarter valued at $60,000. Concurrent Investment Advisors LLC bought a new position in shares of Mfs Muni Inc Tr during the 2nd quarter valued at $81,000. Finally, 1607 Capital Partners LLC acquired a new stake in Mfs Muni Inc Tr in the 2nd quarter worth approximately $154,000.

About Mfs Muni Inc Tr

MFS Municipal Income Trust is a closed-end investment company listed on the New York Stock Exchange under the symbol MFM. The trust seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal securities issued by states, municipalities and other public entities in the United States.

Its portfolio may include bonds financing public infrastructure and essential services, such as education, transportation, utilities, health care and other governmental projects.