MFS Municipal Income Trust (NYSE:MFM) Sees Significant Decline in Short Interest

MFS Municipal Income Trust (NYSE:MFM) saw a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 25,100 shares, a drop of 22.0% from the March 31st total of 32,200 shares. Based on an average daily volume of 92,000 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of MFS Municipal Income Trust

Several institutional investors and hedge funds have recently bought and sold shares of MFM. Raymond James Financial Services Advisors Inc. increased its stake in MFS Municipal Income Trust by 9.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 30,652 shares of the closed-end fund’s stock valued at $158,000 after purchasing an additional 2,571 shares during the period. Drive Wealth Management LLC lifted its position in MFS Municipal Income Trust by 16.1% during the 4th quarter. Drive Wealth Management LLC now owns 21,600 shares of the closed-end fund’s stock worth $112,000 after acquiring an additional 3,000 shares during the period. Edmonds Duncan Registered Investment Advisors LLC increased its holdings in shares of MFS Municipal Income Trust by 1.6% in the fourth quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 213,349 shares of the closed-end fund’s stock valued at $1,103,000 after purchasing an additional 3,273 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of MFS Municipal Income Trust by 26.1% during the fourth quarter. Chicago Partners Investment Group LLC now owns 25,237 shares of the closed-end fund’s stock worth $130,000 after purchasing an additional 5,216 shares during the period. Finally, Landscape Capital Management L.L.C. increased its stake in MFS Municipal Income Trust by 44.2% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 18,278 shares of the closed-end fund’s stock valued at $83,000 after buying an additional 5,599 shares during the period.

MFS Municipal Income Trust Trading Up 0.3 %

NYSE:MFM traded up $0.01 during mid-day trading on Friday, reaching $5.08. 57,073 shares of the stock were exchanged, compared to its average volume of 73,522. MFS Municipal Income Trust has a 1 year low of $4.37 and a 1 year high of $5.48. The company has a 50 day simple moving average of $5.25 and a 200-day simple moving average of $5.08.

MFS Municipal Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 17th will be given a dividend of $0.0205 per share. The ex-dividend date is Tuesday, April 16th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.84%.

MFS Municipal Income Trust Company Profile

MFS Municipal Income Trust is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets of the United States. It primarily invests in tax-exempt bonds and tax-exempt notes. The fund benchmarks the performance of its portfolio against Barclays Municipal Bond Index.