Eaton Vance Municipal Income Trust (NYSE:EVN) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Eaton Vance Municipal Income Trust (NYSE:EVN) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.90 and traded as high as $10.98. Eaton Vance Municipal Income Trust shares last traded at $10.95, with a volume of 73,793 shares traded.

Eaton Vance Municipal Income Trust Stock Down 0.4%

The business has a 50 day simple moving average of $10.88 and a 200-day simple moving average of $10.90.

Eaton Vance Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Tuesday, February 24th. Investors of record on Friday, February 13th were given a $0.0513 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EVN. CENTRAL TRUST Co bought a new stake in shares of Eaton Vance Municipal Income Trust during the 4th quarter worth approximately $54,000. Objective Capital Management LLC acquired a new position in Eaton Vance Municipal Income Trust during the third quarter worth $111,000. Glen Eagle Advisors LLC bought a new stake in Eaton Vance Municipal Income Trust during the fourth quarter worth $111,000. Belpointe Asset Management LLC acquired a new stake in Eaton Vance Municipal Income Trust in the third quarter valued at $138,000. Finally, PNC Financial Services Group Inc. grew its position in shares of 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 acquiring an additional 2,000 shares during the period.

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.