Eaton Vance Municipal Income Trust (NYSE:EVN) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Eaton Vance Municipal Income Trust (NYSE:EVN)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.90 and traded as high as $10.98. Eaton Vance Municipal Income Trust shares last traded at $10.95, with a volume of 73,793 shares trading hands.

Eaton Vance Municipal Income Trust Price Performance

The business has a 50-day moving average of $10.89 and a 200 day moving average of $10.90.

Eaton Vance Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, March 25th. Investors of record on Friday, March 13th will be issued a $0.0513 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, March 13th.

Institutional Investors Weigh In On Eaton Vance Municipal Income Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. grew its position in Eaton Vance Municipal Income Trust by 13.7% in the second quarter. Envestnet Asset Management Inc. now owns 126,602 shares of the investment management company’s stock worth $1,295,000 after acquiring an additional 15,251 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Eaton Vance Municipal Income Trust by 138.0% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 807,458 shares of the investment management company’s stock worth $8,939,000 after purchasing an additional 468,224 shares during the last quarter. Gridiron Partners LLC raised its stake in shares of Eaton Vance Municipal Income Trust by 2,320.0% during the third quarter. Gridiron Partners LLC now owns 924,331 shares of the investment management company’s stock valued at $102,000 after acquiring an additional 886,136 shares during the last quarter. Cary Street Partners Financial LLC lifted its holdings in Eaton Vance Municipal Income Trust by 115.5% in the 3rd quarter. Cary Street Partners Financial LLC now owns 33,751 shares of the investment management company’s stock worth $374,000 after buying an additional 18,090 shares during the period. Finally, ProVise Management Group LLC increased its position in Eaton Vance Municipal Income Trust by 1.4% during the 3rd quarter. ProVise Management Group LLC now owns 97,948 shares of the investment management company’s stock valued at $1,084,000 after purchasing an additional 1,350 shares during the period.

About Eaton Vance Municipal Income Trust

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.