22,500 Shares in DWS Municipal Income Trust (NYSE:KTF) Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC acquired a new position in shares of DWS Municipal Income Trust (NYSE:KTF) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 22,500 shares of the investment management company’s stock, valued at approximately $213,000.

A number of other institutional investors also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of DWS Municipal Income Trust by 17.6% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 570,351 shares of the investment management company’s stock worth $5,390,000 after acquiring an additional 85,515 shares during the period. Raymond James Financial Inc. bought a new stake in shares of DWS Municipal Income Trust during the fourth quarter worth approximately $1,844,000. Kovitz Investment Group Partners LLC bought a new stake in shares of DWS Municipal Income Trust during the third quarter worth approximately $1,595,000. Park Avenue Securities LLC boosted its holdings in shares of DWS Municipal Income Trust by 10.6% during the fourth quarter. Park Avenue Securities LLC now owns 113,646 shares of the investment management company’s stock worth $1,074,000 after acquiring an additional 10,885 shares during the period. Finally, Noble Wealth Management PBC bought a new stake in shares of DWS Municipal Income Trust during the fourth quarter worth approximately $710,000. Institutional investors own 57.71% of the company’s stock.

DWS Municipal Income Trust Stock Performance

Shares of NYSE:KTF opened at $9.37 on Friday. DWS Municipal Income Trust has a 12-month low of $8.92 and a 12-month high of $10.22. The business has a 50 day moving average of $9.53 and a 200-day moving average of $9.74.

DWS Municipal Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a $0.061 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 7.82%.

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.