Eaton Vance Municipal Income Trust (NYSE:EVN) Sees Large Decrease in Short Interest

Eaton Vance Municipal Income Trust (NYSE:EVN – Get Free Report) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 84,460 shares, a decrease of 47.0% from the July 15th total of 159,225 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 78,489 shares, the days-to-cover ratio is currently 1.1 days.

Eaton Vance Municipal Income Trust Price Performance

EVN stock traded down $0.05 during trading on Friday, reaching $10.83. 83,434 shares of the company traded hands, compared to its average volume of 88,024. Eaton Vance Municipal Income Trust has a 12 month low of $10.09 and a 12 month high of $11.26. The business has a 50 day simple moving average of $10.88 and a 200 day simple moving average of $10.77.

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Eaton Vance Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Thursday, August 13th will be given a dividend of $0.0513 per share. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Thursday, August 13th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its position in Eaton Vance Municipal Income Trust by 5.1% during the first quarter. Royal Bank of Canada now owns 93,673 shares of the investment management company’s stock valued at $961,000 after acquiring an additional 4,582 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Eaton Vance Municipal Income Trust by 12.9% in the first quarter. NewEdge Advisors LLC now owns 50,006 shares of the investment management company’s stock worth $513,000 after purchasing an additional 5,711 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of Eaton Vance Municipal Income Trust by 43.5% during the second quarter. Baird Financial Group Inc. now owns 65,615 shares of the investment management company’s stock worth $671,000 after purchasing an additional 19,881 shares in the last quarter. StoneX Group Inc. acquired a new position in shares of Eaton Vance Municipal Income Trust during the second quarter worth $180,000. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of Eaton Vance Municipal Income Trust during the 2nd quarter valued at $160,000.

About Eaton Vance Municipal Income Trust

(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.

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