Mfs Muni Inc Tr $MFM Stock Holdings Lifted by Mackay Shields LLC

Mackay Shields LLC lifted its stake in shares of Mfs Muni Inc Tr (NYSE:MFM) by 30.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 433,155 shares of the closed-end fund’s stock after acquiring an additional 100,000 shares during the quarter. Mackay Shields LLC owned 0.88% of Mfs Muni Inc Tr worth $2,335,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Gridiron Partners LLC lifted its holdings in shares of Mfs Muni Inc Tr by 2,495.5% during the third quarter. Gridiron Partners LLC now owns 308,165 shares of the closed-end fund’s stock valued at $1,661,000 after purchasing an additional 296,292 shares during the last quarter. Balanced Wealth Group LLC acquired a new stake in Mfs Muni Inc Tr during the 2nd quarter worth about $932,000. Advisors Asset Management Inc. raised its holdings in Mfs Muni Inc Tr by 14.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 873,146 shares of the closed-end fund’s stock worth $4,514,000 after buying an additional 106,967 shares during the period. Bridgewater Advisors Inc. purchased a new stake in Mfs Muni Inc Tr during the second quarter valued at about $532,000. Finally, Invesco Ltd. increased its position in shares of Mfs Muni Inc Tr by 32.4% in the second quarter. Invesco Ltd. now owns 423,411 shares of the closed-end fund’s stock worth $2,189,000 after acquiring an additional 103,601 shares in the last quarter.

Mfs Muni Inc Tr Stock Performance

MFM stock opened at $5.47 on Wednesday. The company’s 50 day simple moving average is $5.39 and its 200-day simple moving average is $5.29. Mfs Muni Inc Tr has a 52-week low of $4.94 and a 52-week high of $5.59.

Mfs Muni Inc Tr Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, January 20th will be given a $0.024 dividend. This represents a c) annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Tuesday, January 20th.

Mfs Muni Inc Tr 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.