MFS Municipal Income Trust (NYSE:MFM) Stock Price Passes Below Fifty Day Moving Average of $4.91

Shares of MFS Municipal Income Trust (NYSE:MFMGet Rating) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $4.91 and traded as low as $4.87. MFS Municipal Income Trust shares last traded at $4.99, with a volume of 609,162 shares changing hands.

MFS Municipal Income Trust Stock Up 0.4 %

The firm’s 50 day moving average is $4.91 and its 200-day moving average is $5.35.

MFS Municipal Income Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th will be paid a $0.0185 dividend. This represents a $0.22 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Tuesday, November 15th.

Institutional Investors Weigh In On MFS Municipal Income Trust

Several institutional investors and hedge funds have recently modified their holdings of the business. Cetera Advisor Networks LLC lifted its stake in shares of MFS Municipal Income Trust by 12.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 17,715 shares of the closed-end fund’s stock valued at $108,000 after purchasing an additional 2,000 shares during the last quarter. Integrated Capital Management Inc. lifted its position in MFS Municipal Income Trust by 9.6% during the 2nd quarter. Integrated Capital Management Inc. now owns 27,177 shares of the closed-end fund’s stock worth $147,000 after acquiring an additional 2,381 shares during the last quarter. Van ECK Associates Corp lifted its position in MFS Municipal Income Trust by 1.2% during the 1st quarter. Van ECK Associates Corp now owns 254,046 shares of the closed-end fund’s stock worth $1,555,000 after acquiring an additional 2,956 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in MFS Municipal Income Trust by 6.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 49,949 shares of the closed-end fund’s stock worth $271,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Capital Investment Advisors LLC lifted its position in MFS Municipal Income Trust by 3.1% during the 2nd quarter. Capital Investment Advisors LLC now owns 116,870 shares of the closed-end fund’s stock worth $636,000 after acquiring an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 19.80% of the company’s stock.

About MFS Municipal Income Trust

(Get Rating)

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.

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