Drive Wealth Management LLC Has $78,000 Position in MFS Municipal Income Trust (NYSE:MFM)

Drive Wealth Management LLC lowered its stake in MFS Municipal Income Trust (NYSE:MFM) by 17.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,600 shares of the closed-end fund’s stock after selling 3,000 shares during the period. Drive Wealth Management LLC’s holdings in MFS Municipal Income Trust were worth $78,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MFM. Pathstone Holdings LLC increased its holdings in shares of MFS Municipal Income Trust by 14.8% in the third quarter. Pathstone Holdings LLC now owns 1,625,347 shares of the closed-end fund’s stock valued at $9,298,000 after purchasing an additional 209,439 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of MFS Municipal Income Trust by 9.0% in the second quarter. Envestnet Asset Management Inc. now owns 560,506 shares of the closed-end fund’s stock valued at $3,060,000 after purchasing an additional 46,113 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of MFS Municipal Income Trust by 6.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 573,615 shares of the closed-end fund’s stock valued at $3,069,000 after purchasing an additional 36,785 shares in the last quarter. Wolverine Asset Management LLC increased its holdings in shares of MFS Municipal Income Trust by 81.1% in the third quarter. Wolverine Asset Management LLC now owns 79,658 shares of the closed-end fund’s stock valued at $456,000 after purchasing an additional 35,662 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of MFS Municipal Income Trust in the second quarter valued at approximately $104,000.

MFS Municipal Income Trust Stock Up 0.5 %

MFM opened at $5.44 on Wednesday. The company has a fifty day moving average price of $5.46 and a two-hundred day moving average price of $5.54. MFS Municipal Income Trust has a 52 week low of $5.05 and a 52 week high of $5.78.

MFS Municipal Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 14th will be issued a dividend of $0.0215 per share. This represents a $0.26 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Tuesday, January 14th.

MFS Municipal Income Trust Company Profile

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.