Mfs Muni Inc Tr (NYSE:MFM) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

Mfs Muni Inc Tr (NYSE:MFM) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.45 and traded as low as $5.36. Mfs Muni Inc Tr shares last traded at $5.3650, with a volume of 228,555 shares traded.

Mfs Muni Inc Tr Trading Down 0.5%

The business’s 50-day moving average is $5.49 and its 200-day moving average is $5.45.

Mfs Muni Inc Tr Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 23rd were paid a dividend of $0.03 per share. This represents a c) annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Thursday, July 23rd.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MFM. Garton & Associates Financial Advisors LLC acquired a new position in shares of Mfs Muni Inc Tr in the 4th quarter worth approximately $37,000. Balyasny Asset Management L.P. acquired a new stake in Mfs Muni Inc Tr during the 4th quarter valued at $61,000. Jane Street Group LLC bought a new position in Mfs Muni Inc Tr in the 2nd quarter valued at $96,000. Compound Planning Inc. bought a new stake in shares of Mfs Muni Inc Tr during the fourth quarter worth $106,000. Finally, Nomura Holdings Inc. bought a new stake in shares of Mfs Muni Inc Tr during the second quarter worth $103,000.

About Mfs Muni Inc Tr

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.