Rivernorth Capital Management LLC Sells 447,461 Shares of DWS Municipal Income Trust (NYSE:KTF)

Rivernorth Capital Management LLC reduced its stake in DWS Municipal Income Trust (NYSE:KTF) by 35.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 802,738 shares of the investment management company’s stock after selling 447,461 shares during the quarter. Rivernorth Capital Management LLC owned about 2.05% of DWS Municipal Income Trust worth $8,003,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. US Bancorp DE acquired a new position in shares of DWS Municipal Income Trust in the third quarter valued at about $80,000. Dakota Wealth Management bought a new position in shares of DWS Municipal Income Trust during the second quarter worth approximately $95,000. Walleye Capital LLC acquired a new stake in shares of DWS Municipal Income Trust in the third quarter valued at approximately $114,000. HighTower Advisors LLC boosted its stake in shares of DWS Municipal Income Trust by 18.5% in the third quarter. HighTower Advisors LLC now owns 13,651 shares of the investment management company’s stock valued at $135,000 after buying an additional 2,135 shares during the period. Finally, Whitebox Advisors LLC acquired a new stake in DWS Municipal Income Trust during the second quarter worth approximately $597,000. 57.71% of the stock is currently owned by institutional investors and hedge funds.

DWS Municipal Income Trust Price Performance

KTF stock opened at $9.96 on Friday. DWS Municipal Income Trust has a 12 month low of $8.62 and a 12 month high of $10.22. The company’s 50-day moving average price is $9.96 and its two-hundred day moving average price is $9.78.

DWS Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th will be given a $0.061 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.73 dividend on an annualized basis and a yield of 7.35%.

DWS Municipal Income Trust Company 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.