Eaton Vance Municipal Income Trust Insider Sells Shares

On March 5th, Cynthia Frost, an insider of Eaton Vance Municipal Income Trust (NYSE:EVN - Get Free Report), sold 15,000 shares of the company. The transaction took place at an average price of $10.65 per share, culminating in a total sale value of $159,750. This sale was disclosed through a filing with the Securities and Exchange Commission (SEC).

Eaton Vance Municipal Income Trust Performance Highlights

Following the insider transaction, shares of Eaton Vance Municipal Income Trust traded up by 0.2%, reaching a price of $10.70 during Wednesday's trading session. The trading volume recorded was 37,708 shares, which is notably lower than the average trading volume of 100,595 shares. As for its moving averages, the stock has a fifty-day average price of $10.36 and a 200-day average price of $10.58. Over the last year, the stock has seen a low of $9.79 and a high of $11.31.

Dividend Declaration

In addition to share trading information, the company announced a monthly dividend that is set to be paid on March 21st. Shareholders on record as of March 13th will receive a dividend of $0.0513 per share. This translates to an annual dividend of $0.62 per share, reflecting a dividend yield of 5.76%. The ex-dividend date is also scheduled for March 13th.

Activity from Hedge Funds

There has been an increase in activity from hedge funds regarding Eaton Vance Municipal Income Trust. For example, during the third quarter, Horizon Kinetics Asset Management LLC bought a new stake valued at approximately $110,000. Similarly, Walleye Capital LLC and Ackerman Capital Advisors LLC made new purchases worth around $114,000 and $142,000, respectively. Other hedge funds such as Landscape Capital Management L.L.C. and one8zero8 LLC also acquired stakes during the fourth quarter, valued at approximately $150,000 and $182,000.

Company Overview

As a background, Eaton Vance Municipal Income Trust is a closed-end fixed-income mutual fund managed by Eaton Vance Management. The trust primarily invests in investment-grade municipal obligations across diverse sectors, including cogeneration, education, healthcare, and utilities.

Conclusion

Cynthia Frost's recent sale of shares indicates a significant transaction within Eaton Vance Municipal Income Trust, while the stock's performance and the upcoming dividend provide insights into its current standing. Additionally, the interest shown by hedge funds reflects a growing confidence in the trust's prospects.

Eaton, Vance, Shares