Mfs Muni Inc Tr (NYSE:MFM) Share Price Breaks Above Fifty Day Moving Average – Time to Sell?

Mfs Muni Inc Tr (NYSE:MFM) passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $5.12 and traded as high as $5.19. Mfs Muni Inc Tr shares last traded at $5.1650, with a volume of 237,989 shares.

Mfs Muni Inc Tr Trading Up 1.1%

The stock has a fifty day simple moving average of $5.12 and a two-hundred day simple moving average of $5.37.

Mfs Muni Inc Tr Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be issued a $0.03 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, October 23rd.

Hedge Funds Weigh In On Mfs Muni Inc Tr

Large investors have recently modified their holdings of the company. Park Avenue Securities LLC grew its stake in Mfs Muni Inc Tr by 1.6% during the third quarter. Park Avenue Securities LLC now owns 133,587 shares of the closed-end fund’s stock valued at $648,000 after acquiring an additional 2,150 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its stake in Mfs Muni Inc Tr by 12.4% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 30,606 shares of the closed-end fund’s stock worth $172,000 after purchasing an additional 3,376 shares in the last quarter. Balanced Wealth Group LLC lifted 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 purchasing an additional 4,883 shares in the last quarter. Cetera Investment Advisers lifted 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 purchasing an additional 6,268 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in Mfs Muni Inc Tr by 5.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 154,492 shares of the closed-end fund’s stock valued at $839,000 after purchasing an additional 8,300 shares during the period.

Mfs Muni Inc Tr Company Profile

MFS Municipal Income Trust is a closed-end investment company listed on the New York Stock Exchange under the symbol MFM. The trust seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal securities issued by states, municipalities and other public entities in the United States.

Its portfolio may include bonds financing public infrastructure and essential services, such as education, transportation, utilities, health care and other governmental projects.