MFM Stock Summary and Trading Ideas (MFS Muni Income | NYSE:MFM)

The fund invests, under normal market conditions, at least 80% of its net assets, including assets attributable to preferred shares and borrowings for investment purposes, in municipal bonds (debt securities issued by or on behalf of states, territories, possessions of the United States, District of Columbia, and their political subdivisions, agencies, or instrumentalities, the interest on which is exempt from federal income tax).

MFS Muni Income trades on the NYSE stock market under the symbol MFM.

As of April 19, 2024, MFM stock price declined to $5.11 with 38,978 million shares trading.

MFM has a beta of 0.78, meaning it tends to be less sensitive to market movements. MFM has a correlation of 0.28 to the broad based SPY ETF.

MFM has a market cap of $210.47 million. This is considered a Small Cap stock.

In the last 3 years, MFM stock traded as high as $7.42 and as low as $4.37.

MFM has underperformed the market in the last year with a return of +3.9%, while the SPY ETF gained +21.2%. In the last 3 month period, MFM fell short of the market, returning +0.8%, while SPY returned +4.3%. However, in the most recent 2 weeks MFM has outperformed the stock market by returning -2.5%, while SPY returned -3.5%.

MFM support price is $5.08 and resistance is $5.16 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MFM stock will trade within this expected range on the day.