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

Mfs Muni Inc Tr (NYSE:MFM) saw a large decline in short interest in June. As of June 30th, there was short interest totaling 171,611 shares, a decline of 36.5% from the June 15th total of 270,174 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 257,046 shares, the short-interest ratio is currently 0.7 days.

Institutional Investors Weigh In On Mfs Muni Inc Tr

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Mfs Muni Inc Tr in the 4th quarter worth approximately $37,000. Beaumont Financial Advisors LLC acquired a new position in Mfs Muni Inc Tr during the fourth quarter worth $61,000. Balyasny Asset Management L.P. purchased a new stake in Mfs Muni Inc Tr during the fourth quarter worth $61,000. Jane Street Group LLC purchased a new stake in Mfs Muni Inc Tr during the second quarter worth $96,000. Finally, Nomura Holdings Inc. purchased a new position in shares of Mfs Muni Inc Tr in the second quarter valued at $103,000.

Mfs Muni Inc Tr Trading Down 0.1%

Shares of MFM opened at $5.57 on Friday. Mfs Muni Inc Tr has a 52-week low of $5.03 and a 52-week high of $5.67. The company has a 50-day simple moving average of $5.48 and a 200-day simple moving average of $5.45.

Mfs Muni Inc Tr Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 23rd will be given a dividend of $0.03 per share. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date is Thursday, July 23rd.

Mfs Muni Inc Tr Company 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.