MFS Municipal Income Trust (NYSE:MFM) Sees Large Decline in Short Interest

MFS Municipal Income Trust (NYSE:MFM) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 25,700 shares, a drop of 59.3% from the September 30th total of 63,200 shares. Based on an average daily volume of 98,200 shares, the short-interest ratio is presently 0.3 days.

MFS Municipal Income Trust Stock Performance

NYSE MFM traded down $0.01 during trading hours on Friday, hitting $5.51. 113,217 shares of the company traded hands, compared to its average volume of 91,875. MFS Municipal Income Trust has a twelve month low of $4.37 and a twelve month high of $5.78. The business’s 50-day moving average is $5.66 and its 200-day moving average is $5.42.

MFS Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.0215 per share. This represents a $0.26 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Tuesday, October 15th.

Institutional Trading of MFS Municipal Income Trust

Hedge funds have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. grew its stake in MFS Municipal Income Trust by 37.0% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 761,784 shares of the closed-end fund’s stock valued at $4,091,000 after buying an additional 205,904 shares during the last quarter. Edmonds Duncan Registered Investment Advisors LLC lifted its holdings in MFS Municipal Income Trust by 2.3% during the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 218,234 shares of the closed-end fund’s stock worth $1,172,000 after purchasing an additional 4,885 shares during the last quarter. Private Advisor Group LLC lifted its holdings in MFS Municipal Income Trust by 215.5% during the 1st quarter. Private Advisor Group LLC now owns 544,257 shares of the closed-end fund’s stock worth $2,923,000 after purchasing an additional 371,753 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in MFS Municipal Income Trust by 10.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 445,619 shares of the closed-end fund’s stock valued at $2,393,000 after purchasing an additional 40,573 shares during the period. Finally, Choreo LLC acquired a new position in MFS Municipal Income Trust in the 1st quarter valued at $437,000.

About MFS Municipal Income Trust

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.