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In a challenging economic climate, MFS Municipal Income Trust (NYSE: MFM) stock has recorded a new 52-week low, dipping to $5.05. According to InvestingPro data, the stock's RSI indicates oversold conditions, while maintaining an impressive track record of 39 consecutive years of dividend payments, currently yielding 5.05%. This latest price movement reflects a broader trend affecting the fixed-income securities market, as investors navigate through a landscape marked by rising interest rates and inflation concerns. With a low beta of 0.58 and a P/E ratio of 4.5, MFM has demonstrated relatively low price volatility while maintaining a "GOOD" overall financial health score. The fund, which aims to provide shareholders with high current income exempt from federal income tax, has been subject to the ebb and flow of market sentiment, as well as the fiscal policies that have influenced the municipal bond market over the period. Unlock 6 additional key insights about MFM with InvestingPro.
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