Avantax Advisory Services Inc. Purchases New Shares in MFS Municipal Income Trust (NYSE:MFM)

Avantax Advisory Services Inc. acquired a new position in MFS Municipal Income Trust (NYSE:MFM) in the fourth quarter, Holdings Channel reports. The fund acquired 12,937 shares of the closed-end fund’s stock, valued at approximately $69,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in MFS Municipal Income Trust by 6.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 573,615 shares of the closed-end fund’s stock worth $3,069,000 after acquiring an additional 36,785 shares during the period. Van ECK Associates Corp raised its stake in MFS Municipal Income Trust by 4.5% in the 4th quarter. Van ECK Associates Corp now owns 346,432 shares of the closed-end fund’s stock valued at $1,853,000 after acquiring an additional 15,058 shares during the period. Raymond James Financial Inc. bought a new position in MFS Municipal Income Trust during the fourth quarter worth about $997,000. Park Avenue Securities LLC increased its stake in shares of MFS Municipal Income Trust by 7.2% in the fourth quarter. Park Avenue Securities LLC now owns 134,564 shares of the closed-end fund’s stock worth $720,000 after purchasing an additional 8,993 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of MFS Municipal Income Trust by 11.5% in the third quarter. Rockefeller Capital Management L.P. now owns 106,584 shares of the closed-end fund’s stock valued at $610,000 after purchasing an additional 11,000 shares during the period.

MFS Municipal Income Trust Stock Down 0.6 %

MFM opened at $5.30 on Friday. MFS Municipal Income Trust has a 12 month low of $5.05 and a 12 month high of $5.78. The company has a 50 day moving average of $5.44 and a 200 day moving average of $5.52.

MFS Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be issued a $0.0215 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend is Tuesday, March 18th.

MFS Municipal Income Trust Profile

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.