Van ECK Associates Corp Grows Holdings in DWS Municipal Income Trust (NYSE:KTF)

Van ECK Associates Corp raised its position in DWS Municipal Income Trust (NYSE:KTF) by 14.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 299,354 shares of the investment management company’s stock after buying an additional 38,393 shares during the period. Van ECK Associates Corp owned about 0.76% of DWS Municipal Income Trust worth $2,661,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC increased its holdings in DWS Municipal Income Trust by 101.5% in the third quarter. Wolverine Asset Management LLC now owns 5,434 shares of the investment management company’s stock valued at $42,000 after buying an additional 2,737 shares in the last quarter. Blue Bell Private Wealth Management LLC purchased a new position in DWS Municipal Income Trust in the fourth quarter valued at $79,000. Ironsides Asset Advisors LLC increased its stake in shares of DWS Municipal Income Trust by 14.3% during the third quarter. Ironsides Asset Advisors LLC now owns 17,214 shares of the investment management company’s stock worth $133,000 after purchasing an additional 2,150 shares in the last quarter. Camelot Portfolios LLC increased its stake in shares of DWS Municipal Income Trust by 34.6% during the fourth quarter. Camelot Portfolios LLC now owns 23,563 shares of the investment management company’s stock worth $209,000 after purchasing an additional 6,059 shares in the last quarter. Finally, Fort Point Capital Partners LLC increased its stake in shares of DWS Municipal Income Trust by 110.0% during the third quarter. Fort Point Capital Partners LLC now owns 24,582 shares of the investment management company’s stock worth $189,000 after purchasing an additional 12,874 shares in the last quarter. Hedge funds and other institutional investors own 57.71% of the company’s stock.

DWS Municipal Income Trust Price Performance

KTF stock opened at $9.41 on Wednesday. The firm has a 50-day simple moving average of $9.21 and a 200-day simple moving average of $8.83. DWS Municipal Income Trust has a 52 week low of $7.40 and a 52 week high of $9.68.

DWS Municipal Income Trust Increases Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 19th were paid a dividend of $0.061 per share. The ex-dividend date was Thursday, April 18th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 7.78%. This is a boost from DWS Municipal Income Trust’s previous monthly dividend of $0.04.

DWS Municipal Income Trust Profile

Deutsche Municipal Income Trust is a closed-ended fixed income mutual fund launched and managed by Deutsche Investment Management Americas, Inc It invests in the fixed income markets of the United States. The fund primarily invests in investment-grade tax-exempt municipal securities which are exempt from federal income tax.