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

Eaton Vance Municipal Income Trust (NYSE:EVN)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.80 and traded as high as $10.89. Eaton Vance Municipal Income Trust shares last traded at $10.75, with a volume of 107,320 shares trading hands.

Eaton Vance Municipal Income Trust Stock Performance

The business has a 50 day moving average of $10.88 and a 200-day moving average of $10.80.

Eaton Vance Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, January 26th. Stockholders of record on Wednesday, January 14th will be given a dividend of $0.0513 per share. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a c) annualized dividend and a dividend yield of 5.7%.

Hedge Funds Weigh In On Eaton Vance Municipal Income Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Abel Hall LLC acquired a new stake in shares of Eaton Vance Municipal Income Trust in the 2nd quarter valued at about $102,000. Objective Capital Management LLC acquired a new position in shares of Eaton Vance Municipal Income Trust during the third quarter worth about $111,000. Belpointe Asset Management LLC bought a new position in shares of Eaton Vance Municipal Income Trust during the third quarter worth about $138,000. PNC Financial Services Group Inc. raised its position in Eaton Vance Municipal Income Trust by 18.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 12,613 shares of the investment management company’s stock valued at $129,000 after buying an additional 2,000 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Eaton Vance Municipal Income Trust in the 3rd quarter valued at approximately $149,000.

Eaton Vance Municipal Income Trust Company Profile

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.