Drive Wealth Management LLC Reduces Stock Holdings in MFS Municipal Income Trust (NYSE:MFM)

Drive Wealth Management LLC cut its position in shares of MFS Municipal Income Trust (NYSE:MFM) by 18.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,600 shares of the closed-end fund’s stock after selling 4,000 shares during the period. Drive Wealth Management LLC’s holdings in MFS Municipal Income Trust were worth $96,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in shares of MFS Municipal Income Trust by 17.8% during the 1st quarter. Advisors Asset Management Inc. now owns 939,810 shares of the closed-end fund’s stock valued at $5,047,000 after buying an additional 141,741 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in MFS Municipal Income Trust by 16.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 890,663 shares of the closed-end fund’s stock valued at $4,863,000 after purchasing an additional 128,879 shares during the period. Private Advisor Group LLC increased its position in shares of MFS Municipal Income Trust by 215.5% during the 1st quarter. Private Advisor Group LLC now owns 544,257 shares of the closed-end fund’s stock worth $2,923,000 after purchasing an additional 371,753 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in MFS Municipal Income Trust by 10.0% in the first quarter. Janney Montgomery Scott LLC now owns 445,619 shares of the closed-end fund’s stock valued at $2,393,000 after buying an additional 40,573 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in MFS Municipal Income Trust by 3.6% during the second quarter. Van ECK Associates Corp now owns 338,536 shares of the closed-end fund’s stock worth $1,848,000 after buying an additional 11,835 shares during the period.

MFS Municipal Income Trust Price Performance

MFS Municipal Income Trust stock opened at $5.58 on Monday. The company’s 50 day simple moving average is $5.45 and its 200-day simple moving average is $5.31. MFS Municipal Income Trust has a 1 year low of $4.37 and a 1 year high of $5.66.

MFS Municipal Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.0215 per share. This represents a $0.26 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date was Tuesday, August 13th.

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.