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2023-02-17 19:12
IFP Advisors Inc boosted its position in shares of MFS Municipal Income Trust (NYSE:MFM – Get Rating) by 128.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,454 shares of the closed-end fund's stock after purchasing an additional 10,947 shares during the period. IFP Advisors Inc's holdings in MFS Municipal Income Trust were worth $132,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in shares of MFS Municipal Income Trust by 33.6% during the first quarter. Advisors Asset Management Inc. now owns 607,541 shares of the closed-end fund's stock worth $3,718,000 after buying an additional 152,721 shares during the last quarter. Robinson Capital Management LLC raised its position in MFS Municipal Income Trust by 141.4% during the second quarter. Robinson Capital Management LLC now owns 518,811 shares of the closed-end fund's stock worth $2,923,000 after acquiring an additional 303,861 shares in the last quarter. Bank of America Corp DE raised its position in shares of MFS Municipal Income Trust by 336.5% in the first quarter. Bank of America Corp DE now owns 375,808 shares of the closed-end fund's stock valued at $2,300,000 after purchasing an additional 289,712 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of MFS Municipal Income Trust by 213.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 361,977 shares of the closed-end fund's stock valued at $1,969,000 after purchasing an additional 246,330 shares during the period. Finally, Edmonds Duncan Registered Investment Advisors LLC raised its position in shares of MFS Municipal Income Trust by 3.8% in the third quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 223,629 shares of the closed-end fund's stock valued at $1,082,000 after purchasing an additional 8,140 shares during the period. 19.68% of the stock is owned by institutional investors.
Get MFS Municipal Income Trust alerts:MFM stock opened at $5.19 on Friday. MFS Municipal Income Trust has a 52 week low of $4.66 and a 52 week high of $6.67. The company's 50-day simple moving average is $5.25 and its 200 day simple moving average is $5.21.
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 28th. Shareholders of record on Wednesday, February 15th will be paid a dividend of $0.019 per share. This represents a $0.23 dividend on an annualized basis and a yield of 4.39%. This is an increase from MFS Municipal Income Trust's previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, February 14th.
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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.
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