Envestnet Asset Management Inc. Buys 11,584 Shares of MFS Municipal Income Trust (NYSE:MFM)

Envestnet Asset Management Inc. raised its stake in shares of MFS Municipal Income Trust (NYSE:MFMGet Rating) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 176,300 shares of the closed-end fund’s stock after acquiring an additional 11,584 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.43% of MFS Municipal Income Trust worth $959,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. US Bancorp DE bought a new stake in MFS Municipal Income Trust during the 2nd quarter valued at $41,000. Park Avenue Securities LLC boosted its position in MFS Municipal Income Trust by 7.4% during the 2nd quarter. Park Avenue Securities LLC now owns 168,177 shares of the closed-end fund’s stock valued at $915,000 after acquiring an additional 11,617 shares in the last quarter. Ackerman Capital Advisors LLC bought a new stake in MFS Municipal Income Trust during the 2nd quarter valued at $107,000. Edmonds Duncan Registered Investment Advisors LLC lifted its holdings in shares of MFS Municipal Income Trust by 5.5% during the 2nd quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 215,489 shares of the closed-end fund’s stock valued at $1,172,000 after purchasing an additional 11,161 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of MFS Municipal Income Trust by 6.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 49,949 shares of the closed-end fund’s stock valued at $271,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors own 19.80% of the company’s stock.

MFS Municipal Income Trust Trading Up 0.6 %

Shares of MFM opened at $5.07 on Friday. MFS Municipal Income Trust has a 12 month low of $4.66 and a 12 month high of $7.17. The stock has a fifty day moving average price of $4.90 and a 200-day moving average price of $5.34.

MFS Municipal Income Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be issued a dividend of $0.0185 per share. The ex-dividend date is Tuesday, November 15th. This represents a $0.22 annualized dividend and a dividend yield of 4.38%.

About MFS Municipal Income Trust

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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.

Further Reading

Institutional Ownership by Quarter for MFS Municipal Income Trust (NYSE:MFM)

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