Eaton Vance Municipal Income Trust Reports Earnings Results for the First Quarter Ended February 29, 2012
May 22, 2012 at 02:16 am IST
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Eaton Vance Municipal Income Trust reported earnings results for the first quarter ended February 29, 2012. For the quarter, the trust had net investment income of $5,206,372 or $0.229 per common share. In comparison, for the three months ended February 28, 2011, the trust had net investment income of $5,910,988 or $0.261 per common share. Net realized and unrealized gains for the three months ended February 29, 2012 were $31,603,870 or $1.387 per common share. In comparison, net realized and unrealized losses for the three months ended February 28, 2011 were $22,926,863 or $1.012 per common share. On February 29, 2012, net assets of the trust applicable to common shares were $275,319,316. The net asset value per common share on February 29, 2012 was $12.08 based on 22,787,287 common shares outstanding. In comparison, on February 28, 2011, net assets of the trust applicable to common shares were $228,406,788. The net asset value per common share on February 28, 2011 was $10.07 based on 22,673,357 common shares outstanding. Net increase in net assets from operations was $36,757,000 against Net decreased in net assets from operations of $17,143,000 a year ago.
Eaton Vance Municipal Income Trust (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income exempt from regular federal income tax. During normal market conditions, substantially all of the Fund's total assets (at least 80%) will be invested in debt obligations issued by or on behalf of states, territories and possessions of the United States, and the District of Columbia and their political subdivisions, agencies or instrumentalities, the interest on which is exempt from regular federal income tax (municipal obligations). At least 65% of the Fund's total assets will normally be invested in municipal obligations rated at least investment grade at the time of investment, or, if unrated, determined by Eaton Vance Management (EVM) to be of at least investment grade quality. The Fund invests in various sectors, such as education, hospital, electric utilities and housing. The Fund's investment adviser is EVM.