Mfs Muni Inc Tr Plans Monthly Dividend of $0.03 (NYSE:MFM)

Mfs Muni Inc Tr (NYSE:MFM) announced a monthly dividend on Tuesday, August 11th. Stockholders of record on Monday, August 24th will be given a dividend of 0.03 per share by the closed-end fund on Monday, August 31st. 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 Stock Performance

Shares of NYSE MFM traded up $0.04 during mid-day trading on Wednesday, reaching $5.42. 120,895 shares of the company were exchanged, compared to its average volume of 154,298. Mfs Muni Inc Tr has a 52 week low of $5.03 and a 52 week high of $5.67. The company’s 50 day moving average price is $5.49 and its 200 day moving average price is $5.45.

Hedge Funds Weigh In On Mfs Muni Inc Tr

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

About Mfs Muni Inc Tr

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.