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

Rivernorth Capital Management LLC lessened its position in shares of DWS Municipal Income Trust (NYSE:KTF) by 35.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of DWS Municipal Income Trust by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 78,626 shares of the investment management company’s stock worth $745,000 after acquiring an additional 1,689 shares in the last quarter. Integrated Capital Management Inc. grew its position in DWS Municipal Income Trust by 9.7% during the 2nd quarter. Integrated Capital Management Inc. now owns 20,357 shares of the investment management company’s stock worth $193,000 after purchasing an additional 1,792 shares during the last quarter. HighTower Advisors LLC grew its position in DWS Municipal Income Trust by 18.5% during the 3rd quarter. HighTower Advisors LLC now owns 13,651 shares of the investment management company’s stock worth $135,000 after purchasing an additional 2,135 shares during the last quarter. Melfa Wealth Management Inc. grew its position in DWS Municipal Income Trust by 2.3% during the 2nd quarter. Melfa Wealth Management Inc. now owns 161,069 shares of the investment management company’s stock worth $1,525,000 after purchasing an additional 3,600 shares during the last quarter. Finally, US Bancorp DE purchased a new stake in DWS Municipal Income Trust during the 3rd quarter worth approximately $80,000. Institutional investors own 57.71% of the company’s stock.

DWS Municipal Income Trust Price Performance

NYSE:KTF opened at $10.03 on Thursday. DWS Municipal Income Trust has a twelve month low of $8.58 and a twelve month high of $10.22. The company’s 50 day moving average is $9.95 and its two-hundred day moving average is $9.76.

DWS Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, November 29th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.061 per share. This represents a $0.73 annualized dividend and a yield of 7.30%. The ex-dividend date was Wednesday, November 20th.

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.