MFS Municipal Income Trust (NYSE:MFM) Stock Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

MFS Municipal Income Trust (NYSE:MFM)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.52 and traded as low as $5.29. MFS Municipal Income Trust shares last traded at $5.30, with a volume of 89,635 shares traded.

MFS Municipal Income Trust Price Performance

The firm’s 50 day moving average price is $5.44 and its two-hundred day moving average price is $5.52.

MFS Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.0215 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.26 annualized dividend and a dividend yield of 4.87%.

Hedge Funds Weigh In On MFS Municipal Income Trust

Several hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. boosted its stake in MFS Municipal Income Trust by 11.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 106,584 shares of the closed-end fund’s stock worth $610,000 after purchasing an additional 11,000 shares during the period. HighTower Advisors LLC grew its stake in MFS Municipal Income Trust by 66.2% during the third quarter. HighTower Advisors LLC now owns 32,726 shares of the closed-end fund’s stock valued at $183,000 after acquiring an additional 13,030 shares in the last quarter. MML Investors Services LLC increased its holdings in MFS Municipal Income Trust by 5.9% during the 3rd quarter. MML Investors Services LLC now owns 39,303 shares of the closed-end fund’s stock worth $225,000 after acquiring an additional 2,206 shares during the period. Park Avenue Securities LLC lifted its stake in MFS Municipal Income Trust by 7.2% in the 4th quarter. Park Avenue Securities LLC now owns 134,564 shares of the closed-end fund’s stock worth $720,000 after purchasing an additional 8,993 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its holdings in MFS Municipal Income Trust by 49.4% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 27,230 shares of the closed-end fund’s stock valued at $146,000 after purchasing an additional 9,000 shares during the period.

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.