Mfs Muni Inc Tr (NYSE:MFM) Sees Large Drop in Short Interest

Mfs Muni Inc Tr (NYSE:MFM) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 30,188 shares, a decrease of 72.3% from the August 31st total of 109,125 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 341,484 shares, the short-interest ratio is currently 0.1 days.

Mfs Muni Inc Tr Stock Down 1.3%

NYSE MFM traded down $0.07 during trading hours on Friday, hitting $4.91. The company had a trading volume of 831,354 shares, compared to its average volume of 358,026. Mfs Muni Inc Tr has a 52 week low of $4.90 and a 52 week high of $5.67. The firm has a 50 day simple moving average of $5.31 and a 200 day simple moving average of $5.39.

Mfs Muni Inc Tr Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be given a $0.03 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date is Tuesday, September 22nd.

Hedge Funds Weigh In On Mfs Muni Inc Tr

Several hedge funds have recently bought and sold shares of the company. Allworth Financial LP lifted its stake in Mfs Muni Inc Tr by 1,220.8% in the 2nd quarter. Allworth Financial LP now owns 9,602 shares of the closed-end fund’s stock worth $54,000 after purchasing an additional 8,875 shares in the last quarter. Fortitude Advisory Group L.L.C. purchased a new position in shares of Mfs Muni Inc Tr during the 2nd quarter valued at $59,000. Concurrent Investment Advisors LLC bought a new position in shares of Mfs Muni Inc Tr in the second quarter worth $81,000. 1607 Capital Partners LLC bought a new position in shares of Mfs Muni Inc Tr in the second quarter worth $154,000. Finally, Wealthcare Advisory Partners LLC raised its position in shares of Mfs Muni Inc Tr by 12.4% in the second quarter. Wealthcare Advisory Partners LLC now owns 30,606 shares of the closed-end fund’s stock worth $172,000 after buying an additional 3,376 shares in the last quarter.

About Mfs Muni Inc Tr

MFS Municipal Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol MFM. The fund seeks to provide current income that is exempt from federal income tax by investing primarily in municipal bonds and other municipal securities.

The trust’s portfolio may include obligations issued by states, municipalities and other governmental entities, as well as securities issued to finance public infrastructure and essential services. Its investments generally span municipal issuers across the United States, with portfolio composition and geographic exposure changing over time based on market conditions and the fund’s investment strategy.

MFS Municipal Income Trust is managed by MFS Investment Management, an investment management firm that provides portfolio management and related services to mutual funds, closed-end funds and other institutional and individual investors.