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

Rivernorth Capital Management LLC reduced its stake in shares of DWS Municipal Income Trust (NYSE:KTF - Free Report) by 35.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KTF. Logan Stone Capital LLC boosted its position in DWS Municipal Income Trust by 17.7% in the 2nd quarter. Logan Stone Capital LLC now owns 653,273 shares of the investment management company's stock valued at $6,186,000 after buying an additional 98,334 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in DWS Municipal Income Trust by 28.0% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 484,836 shares of the investment management company's stock worth $4,834,000 after purchasing an additional 106,180 shares during the period. City of London Investment Management Co. Ltd. increased its position in DWS Municipal Income Trust by 3.8% in the second quarter. City of London Investment Management Co. Ltd. now owns 412,392 shares of the investment management company's stock worth $3,905,000 after purchasing an additional 15,127 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in DWS Municipal Income Trust during the 3rd quarter worth about $1,595,000. Finally, HB Wealth Management LLC acquired a new position in DWS Municipal Income Trust during the 2nd quarter valued at about $1,420,000. Institutional investors and hedge funds own 57.71% of the company's stock.

DWS Municipal Income Trust Stock Down 1.1 %

Shares of NYSE:KTF traded down $0.11 during trading on Friday, hitting $9.85. 132,124 shares of the company's stock were exchanged, compared to its average volume of 137,740. The firm has a 50-day moving average price of $9.96 and a two-hundred day moving average price of $9.78. DWS Municipal Income Trust has a 1-year low of $8.71 and a 1-year high of $10.22.

DWS Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 30th. Investors of record on Wednesday, December 18th will be paid a dividend of $0.061 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 7.43%.

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.