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

Eaton Vance Municipal Income Trust (NYSE:EVNGet Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.76 and traded as high as $10.77. Eaton Vance Municipal Income Trust shares last traded at $10.74, with a volume of 64,590 shares changing hands.

Eaton Vance Municipal Income Trust Trading Up 1.0%

The stock’s fifty day simple moving average is $10.60 and its 200 day simple moving average is $10.76.

Eaton Vance Municipal Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Friday, June 12th will be issued a dividend of $0.0513 per share. This represents a c) dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Friday, June 12th.

Institutional Trading of Eaton Vance Municipal Income Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVN. Guggenheim Capital LLC increased its holdings in Eaton Vance Municipal Income Trust by 17.7% during the fourth quarter. Guggenheim Capital LLC now owns 957,988 shares of the investment management company’s stock valued at $10,308,000 after buying an additional 143,896 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Eaton Vance Municipal Income Trust by 17.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 948,250 shares of the investment management company’s stock worth $10,203,000 after purchasing an additional 140,792 shares during the period. Raymond James Financial Inc. boosted its position in shares of Eaton Vance Municipal Income Trust by 12.0% in the second quarter. Raymond James Financial Inc. now owns 797,595 shares of the investment management company’s stock worth $8,159,000 after purchasing an additional 85,737 shares during the period. Bank of America Corp DE boosted its position in shares of Eaton Vance Municipal Income Trust by 14.1% in the second quarter. Bank of America Corp DE now owns 342,870 shares of the investment management company’s stock worth $3,508,000 after purchasing an additional 42,332 shares during the period. Finally, LPL Financial LLC boosted its position in shares of Eaton Vance Municipal Income Trust by 23.5% in the fourth quarter. LPL Financial LLC now owns 203,743 shares of the investment management company’s stock worth $2,192,000 after purchasing an additional 38,710 shares during the period.

Eaton Vance Municipal Income Trust Company Profile

(Get Free Report)

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.

Further Reading

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