Procyon Advisors LLC Buys Shares of 14,320 MFS Municipal Income Trust (NYSE:MFM)

Procyon Advisors LLC bought a new stake in shares of MFS Municipal Income Trust (NYSE:MFM – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 14,320 shares of the closed-end fund’s stock, valued at approximately $74,000.

Several other hedge funds also recently modified their holdings of the company. Synovus Financial Corp acquired a new position in shares of MFS Municipal Income Trust in the 3rd quarter worth $49,000. Kestra Advisory Services LLC bought a new stake in shares of MFS Municipal Income Trust during the 3rd quarter worth about $55,000. Moors & Cabot Inc. bought a new stake in shares of MFS Municipal Income Trust during the 3rd quarter worth about $56,000. Nomura Holdings Inc. bought a new stake in shares of MFS Municipal Income Trust during the 2nd quarter worth about $63,000. Finally, Drive Wealth Management LLC bought a new stake in MFS Municipal Income Trust during the 3rd quarter valued at approximately $68,000. 19.68% of the stock is currently owned by institutional investors and hedge funds.

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MFS Municipal Income Trust Stock Performance

Shares of NYSE:MFM opened at $5.05 on Wednesday. The business has a 50 day moving average price of $5.18 and a 200 day moving average price of $5.08. MFS Municipal Income Trust has a twelve month low of $4.66 and a twelve month high of $6.27.

MFS Municipal Income Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be paid a dividend of $0.0185 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $0.22 annualized dividend and a yield of 4.40%.

MFS Municipal Income Trust Company Profile

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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.

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