Mfs Muni Inc Tr (NYSE:MFM) Shares Cross Above Fifty Day Moving Average – Time to Sell?

Mfs Muni Inc Tr (NYSE:MFM)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $5.40 and traded as high as $5.51. Mfs Muni Inc Tr shares last traded at $5.4650, with a volume of 84,772 shares.

Mfs Muni Inc Tr Stock Down 0.4%

The stock’s 50 day simple moving average is $5.40 and its 200 day simple moving average is $5.42.

Mfs Muni Inc Tr Announces Dividend

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

Hedge Funds Weigh In On Mfs Muni Inc Tr

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Thomas J. Herzfeld Advisors Inc. grew its stake in Mfs Muni Inc Tr by 1.5% in the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 137,475 shares of the closed-end fund’s stock worth $746,000 after buying an additional 2,078 shares in the last quarter. Baird Financial Group Inc. grew its stake in Mfs Muni Inc Tr by 14.5% in the 2nd quarter. Baird Financial Group Inc. now owns 23,676 shares of the closed-end fund’s stock worth $122,000 after buying an additional 3,000 shares in the last quarter. HighTower Advisors LLC grew its stake in Mfs Muni Inc Tr by 17.2% in the 4th quarter. HighTower Advisors LLC now owns 32,427 shares of the closed-end fund’s stock worth $176,000 after buying an additional 4,759 shares in the last quarter. Balanced Wealth Group LLC grew its stake in Mfs Muni Inc Tr by 2.6% in the 1st quarter. Balanced Wealth Group LLC now owns 195,055 shares of the closed-end fund’s stock worth $1,051,000 after buying an additional 4,883 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in Mfs Muni Inc Tr by 22.4% in the 1st quarter. Cetera Investment Advisers now owns 34,303 shares of the closed-end fund’s stock worth $185,000 after buying an additional 6,268 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.