Eaton Vance Municipal Income Trust (NYSE:EVN) Shares Pass Above 200 Day Moving Average – What’s Next?

Shares of Eaton Vance Municipal Income Trust (NYSE:EVN) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.78 and traded as high as $11.11. Eaton Vance Municipal Income Trust shares last traded at $11.0750, with a volume of 84,845 shares trading hands.

Eaton Vance Municipal Income Trust Stock Performance

The company’s 50-day moving average is $10.90 and its two-hundred day moving average is $10.78.

Eaton Vance Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, January 26th. Stockholders of record on Wednesday, January 14th will be issued a dividend of $0.0513 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Wednesday, January 14th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Integrated Capital Management Inc. boosted its stake in Eaton Vance Municipal Income Trust by 12.4% in the second quarter. Integrated Capital Management Inc. now owns 25,076 shares of the investment management company’s stock valued at $257,000 after buying an additional 2,766 shares in the last quarter. Park Avenue Securities LLC raised its stake in Eaton Vance Municipal Income Trust by 13.2% during the second quarter. Park Avenue Securities LLC now owns 113,480 shares of the investment management company’s stock worth $1,161,000 after acquiring an additional 13,270 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Eaton Vance Municipal Income Trust by 13.7% in the second quarter. Envestnet Asset Management Inc. now owns 126,602 shares of the investment management company’s stock worth $1,295,000 after acquiring an additional 15,251 shares during the last quarter. Whipplewood Advisors LLC boosted its stake in shares of Eaton Vance Municipal Income Trust by 70,592.9% in the 2nd quarter. Whipplewood Advisors LLC now owns 89,780 shares of the investment management company’s stock valued at $918,000 after purchasing an additional 89,653 shares in the last quarter. Finally, Gridiron Partners LLC grew its holdings in shares of Eaton Vance Municipal Income Trust by 2,320.0% during the 3rd quarter. Gridiron Partners LLC now owns 924,331 shares of the investment management company’s stock valued at $102,000 after purchasing an additional 886,136 shares during the last quarter.

About Eaton Vance Municipal Income Trust

Eaton Vance Municipal Income Trust (NYSE: EVN) is a closed-end management investment company that seeks to provide shareholders with current income exempt from federal income taxes. The trust primarily invests in investment-grade municipal securities issued by U.S. state and local governments, authorities and agencies. By focusing on tax-exempt income, EVN aims to deliver attractive after-tax yields to individual and institutional investors.

The fund’s portfolio is diversified across sectors such as general obligation bonds, revenue bonds, essential service issuers and housing finance agencies.