Envestnet Asset Management Inc. Raises Stock Holdings in MFS Municipal Income Trust (NYSE:MFM)

Envestnet Asset Management Inc. increased its position in MFS Municipal Income Trust (NYSE:MFMGet Rating) by 7.0% in the second quarter, HoldingsChannel.com reports. The fund owned 176,300 shares of the closed-end fund’s stock after buying an additional 11,584 shares during the period. Envestnet Asset Management Inc.’s holdings in MFS Municipal Income Trust were worth $959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC raised its stake in 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 worth $108,000 after acquiring an additional 2,000 shares during the last quarter. Integrated Capital Management Inc. raised its stake in MFS Municipal Income Trust by 9.6% in 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 grew 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 purchasing an additional 2,956 shares during the period. Commonwealth Equity Services LLC grew 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 purchasing an additional 3,000 shares during the period. Finally, Capital Investment Advisors LLC grew 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 purchasing an additional 3,500 shares during the period. Hedge funds and other institutional investors own 19.80% of the company’s stock.

MFS Municipal Income Trust Stock Up 0.6 %

Shares of MFM opened at $5.07 on Friday. The business’s 50-day moving average is $4.90 and its two-hundred day moving average is $5.34. MFS Municipal Income Trust has a fifty-two week low of $4.66 and a fifty-two week high of $7.17.

MFS Municipal Income Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th will be given a dividend of $0.0185 per share. This represents a $0.22 annualized dividend and a yield of 4.38%. The ex-dividend date is Tuesday, November 15th.

MFS Municipal Income Trust Profile

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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.

Further Reading

Want to see what other hedge funds are holding MFM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MFS Municipal Income Trust (NYSE:MFMGet Rating).

Institutional Ownership by Quarter for MFS Municipal Income Trust (NYSE:MFM)

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