Bulldog Investors Discloses 3.33% Stake in DWS Municipal Income Trust

TL;DR

**Bulldog Investors just revealed a 3.33% stake in DWS Municipal Income Trust, watch for potential activist moves.**

AI Summary

Bulldog Investors, LLP, an investment advisor based in Saddle Brook, NJ, reported on January 31, 2024, that it beneficially owns 1,306,977 shares of DWS Municipal Income Trust's Common Stock, representing 3.33% of the class. This filing, triggered by an event on December 31, 2023, indicates Bulldog Investors has shared voting and dispositive power over these shares. This matters to investors because a significant stake by an activist investor like Bulldog could signal potential future pressure on DWS Municipal Income Trust's management to enhance shareholder value.

Why It Matters

A substantial stake by an investment advisor like Bulldog Investors could lead to calls for operational changes or strategic shifts at DWS Municipal Income Trust, potentially impacting the stock's performance.

Risk Assessment

Risk Level: medium — The involvement of an activist investor can introduce volatility, as their actions might lead to significant changes or disputes within the company.

Analyst Insight

Investors should monitor DWS Municipal Income Trust for any communications or actions from Bulldog Investors, LLP, as their significant stake could signal upcoming strategic changes or demands, potentially affecting the fund's performance or distribution policy. Research Bulldog Investors' past activist campaigns to gauge potential future actions.

Key Numbers

• 1,306,977 — Shares Beneficially Owned (Represents Bulldog Investors, LLP's total stake in DWS Municipal Income Trust.)
• 3.33% — Percent of Class (Indicates the proportion of DWS Municipal Income Trust's common stock owned by Bulldog Investors, LLP.)

Key Players & Entities

• Bulldog Investors, LLP (company) — reporting person and investment advisor
• DWS Municipal Income Trust (company) — subject company (issuer)
• Phillip Goldstein (person) — reporting person
• 1,306,977 (dollar_amount) — shares beneficially owned
• 3.33% (dollar_amount) — percentage of class owned
• December 31, 2023 (date) — date of event requiring filing

Forward-Looking Statements

• Bulldog Investors, LLP may engage in activist strategies to influence DWS Municipal Income Trust's management. (Bulldog Investors, LLP) — medium confidence, target: Within 12 months
• DWS Municipal Income Trust's stock price could experience increased volatility due to the activist stake. (DWS Municipal Income Trust) — medium confidence, target: Within 6 months

FAQ

Filing Documents

• fp0087004-1_sc13g.htm (SC 13G) — 42KB
• fp0087004-1_ex7a.htm (EX-7.A) — 7KB
• 0001398344-24-001439.txt ( ) — 51KB

From the Filing

SC 13G 1 fp0087004-1_sc13g.htm SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 DWS Municipal Income Trust (Name of Issuer) Common Stock (Title of Class of Securities) 233368109 (CUSIP Number) 12/31/2023 (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: _X_ Rule 13d-1(b) __ Rule 13d-1(c) __ Rule 13d-1(d) CUSIP No.: 233368109 1. Names of Reporting Persons: Bulldog Investors, LLP 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned by Each Reporting Person With: 5. Sole Voting Power 0 6. Shared Voting Power 1,306,977 7. Sole Dispositive Power 0 8. Shared Dispositive Power 1,306,977 9. Aggregate Amount Beneficially Owned by Each Reporting Person 1,306,977 (footnote 1) 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) N/A 11. Percent of Class Represented by Amount in Row (9) 3.33% 12. Type of Reporting Person (See Instructions) IA 1. Names of Reporting Persons Phillip Goldstein 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Citizenship or Place of Organization USA Number of Shares Beneficially Owned by Each Reporting Person With: 5. Sole Voting Power 0 6. Shared Voting Power 1,992,456 7. Sole Dispositive Power 0 8. Shared Dispositive Power 1,992,456 9. Aggregate Amount Beneficially Owned by Each Reporting Person 1,992,456 (footnote 1) 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) N/A 11. Percent of Class Represented by Amount in Row (9) 5.08% 12. Type of Reporting Person (See Instructions) IN 1. Names of Reporting Persons Andrew Dakos 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Citizenship or Place of Organization USA Number of Shares Beneficially Owned by Each Reporting Person With: 5. Sole Voting Power 0 6. Shared Voting Power 1,992,456 7. Sole Dispositive Power 0 8. Shared Dispositive Power 1,992,456 9. Aggregate Amount Beneficially Owned by Each Reporting Person 1,992,456 (footnote 1) 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) N/A 11. Percent of Class Represented by Amount in Row (9) 5.08% 12. Type of Reporting Person (See Instructions) IN Item 1(a) The Name of the Issuer is: DWS Municipal Income Trust. Item 1(b) Address of Issuer's Principal Executive Offices: 875 Third Avenue New York, NY 10022-6225 Item 2(a) Name of Persons Filing are: Bulldog Investors, LLP, Phillip Goldstein and Andrew Dakos Item 2(b) Address of principal business office: 250 Pehle Ave. Suite 708 Saddle Brook, NJ 07663 Item 2(c) Citizenship or Place of Organization: Delaware Item 2(d) Title of Class of Securities: Common Stock Item 2(e) CUSIP Number: 233368109 Item 3. This (e) An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E). Item 4. Ownership. (a) Amount beneficially owned: 1,992,456 (b) Percent of class: 5.08% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 1,992,456 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 1,992,456 Item 5. Ownership of 5 Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial Item 6. Ownership of More than 5 Percent on Behalf of Another Person. Clients of Bulldog Investors, LLP, and other accounts for which Messrs. Dakos and Goldstein are deemed to be the beneficial owners, are entitled to receive dividends and sales proceeds. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security being Reported on by the Parent Holding Company or Control Person. Not applicable. Item 8. Identification and Classification of Members of the Group. N/A Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11.

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