Aberdeen Municipal Income Fund
MFM
New York Stock Exchange- -
USD
- -
- -
- -
- -
(- -)
Recent
price
- -
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Similar Companies
- Business
- MFS Municipal Income Trust (NYSE: MFM) is a closed-end fixed income mutual fund managed by Massachusetts Financial Services Company that seeks high current income exempt from federal income tax. The fund primarily invests in a diversified portfolio of tax-exempt municipal bonds and notes issued by U.S. states, territories, and local governments; it benchmarks performance against the Bloomberg Municipal Bond Index and employs leverage through variable rate municipal term preferred shares. As of July 31, 2025, the portfolio comprises 856 issues from 416 issuers with an average coupon of 4.98%, effective duration of 13.48 years, and effective maturity of 20.85 years, featuring top holdings such as Black Belt Energy Gas District bonds, Chicago Board of Education bonds, and Puerto Rico Sales Tax Financing Corporation securities. Founded on November 25, 1986, and headquartered at 111 Huntington Avenue, Boston, Massachusetts, the trust operates within the U.S. asset management industry, targeting income-oriented investors seeking tax-advantaged fixed income exposure primarily from municipal issuers across various sectors including education, transportation, energy, and public finance. In recent strategic developments, the fund's Board of Trustees approved proposed reorganizations of MFS High Income Municipal Trust (CXE), MFS High Yield Municipal Trust (CMU), and MFS Investment Grade Municipal Trust (CXH) into MFM as the surviving fund, alongside a separate proposed merger with abrdn National Municipal Income Fund (VFL), with shareholder votes scheduled for March 11, 2026, and potential closing in Q2 2026 that could lead to a name change to Aberdeen Municipal Income Fund and a targeted 6% annual distribution rate based on net asset value. Additionally, MFS announced a portfolio management team update for MFM and related funds in May 2024, led by managers Michael Dawson, Jason Kosty, and Geoffrey Schechter. The fund maintains monthly dividend distributions, recently at $0.024 per share, with net assets of approximately $234 million as of July 31, 2025.