MFS Municipal Income Trust (NYSE:MFM) Short Interest Down 43.0% in May

MFS Municipal Income Trust (NYSE:MFM) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totalling 16,200 shares, a drop of 43.0% from the April 30th total of 28,400 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 141,900 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On MFS Municipal Income Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MFM. Anderson Financial Strategies LLC purchased a new position in MFS Municipal Income Trust during the fourth quarter valued at $4,288,000. Bank of America Corp DE raised its position in shares of MFS Municipal Income Trust by 15.6% in the fourth quarter. Bank of America Corp DE now owns 1,895,354 shares of the closed-end fund’s stock valued at $10,140,000 after buying an additional 255,120 shares during the last quarter. Pathstone Holdings LLC raised its position in shares of MFS Municipal Income Trust by 12.4% in the fourth quarter. Pathstone Holdings LLC now owns 1,827,038 shares of the closed-end fund’s stock valued at $9,790,000 after buying an additional 201,691 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of MFS Municipal Income Trust in the fourth quarter valued at about $997,000. Finally, Advisors Asset Management Inc. raised its position in shares of MFS Municipal Income Trust by 21.2% in the fourth quarter. Advisors Asset Management Inc. now owns 875,266 shares of the closed-end fund’s stock valued at $4,683,000 after buying an additional 153,263 shares during the last quarter.

MFS Municipal Income Trust Price Performance

MFM opened at $5.12 on Monday. MFS Municipal Income Trust has a 52-week low of $4.94 and a 52-week high of $5.78. The firm’s fifty day simple moving average is $5.15 and its two-hundred day simple moving average is $5.36.

MFS Municipal Income Trust Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.022 per share. This represents a $0.26 annualized dividend and a yield of 5.16%. This is an increase from MFS Municipal Income Trust’s previous monthly dividend of $0.02. The ex-dividend date was Tuesday, May 13th.

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.