Mfs Muni Inc Tr (NYSE:MFM) Stock Price Crosses Above 50-Day Moving Average – Time to Sell?

Mfs Muni Inc Tr (NYSE:MFM) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.41 and traded as high as $5.45. Mfs Muni Inc Tr shares last traded at $5.44, with a volume of 175,296 shares trading hands.

Mfs Muni Inc Tr Trading Up 1.1%

The stock’s 50 day moving average price is $5.41 and its 200 day moving average price is $5.42.

Mfs Muni Inc Tr Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.024 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MFM. Royal Bank of Canada increased its stake 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 acquiring an additional 9,900 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Mfs Muni Inc Tr by 35.3% during the 1st 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. increased its stake in shares of Mfs Muni Inc Tr by 32.4% during the 2nd 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. increased its stake in shares of Mfs Muni Inc Tr by 14.5% during the 2nd quarter. Baird Financial Group Inc. now owns 23,676 shares of the closed-end fund’s stock valued at $122,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in Mfs Muni Inc Tr by 4.4% during the 2nd quarter. Raymond James Financial Inc. now owns 197,612 shares of the closed-end fund’s stock worth $1,022,000 after purchasing an additional 8,319 shares in the last quarter.

Mfs Muni Inc Tr Company Profile

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.