SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 6)
DWS Municipal Income Trust
( KTF )
(Name of Issuer)
Common Stock
(Title of Class of Securities)
233368109
(CUSIP Number)
Paul E. Rasmussen
3300 IDS Center
80 South Eighth Street
Minneapolis, MN 55402-4130
(Name, Address, and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 16, 2024
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐
* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for a subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 233368109
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1
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NAME OF REPORTING PERSON
Sit Investment Associates, Inc. |
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2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
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(a) ☐ (b) ☒ | ||
3 |
SEC USE ONLY
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4 |
SOURCE OF FUNDS (See Instructions) 00 |
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5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
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6 |
CITIZENSHIP OR PLACE OF ORGANIZATION
Incorporated in Minnesota |
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NUMBER
OF
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7 |
SOLE VOTING POWER
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8
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SHARED VOTING POWER
6,123,168 Shares | |
9 |
SOLE DISPOSITIVE POWER
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10
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SHARED DISPOSITIVE POWER
6,123,168 Shares |
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,123,168 Shares |
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12
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See instructions) |
☐ |
13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.63% |
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14
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TYPE OF REPORTING PERSON
(See Instructions)
IA |
CUSIP No. 233368109
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1
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NAME OF REPORTING PERSON
Sit Fixed Income Advisors II, LLC |
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2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
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(a) ☐ (b) ☒ | ||
3 |
SEC USE ONLY
|
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4 |
SOURCE OF FUNDS (See Instructions) 00 |
|||
5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐ |
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6 |
CITIZENSHIP OR PLACE OF ORGANIZATION
Organized in Delaware |
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NUMBER
OF
|
7 |
SOLE VOTING POWER
|
8
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SHARED VOTING POWER
6,123,168 Shares | |
9 |
SOLE DISPOSITIVE POWER
| |
10
|
SHARED DISPOSITIVE POWER
6,123,168 Shares |
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,123,168 Shares |
|
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See instructions) |
☐ |
13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.63% |
|
14
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TYPE OF REPORTING PERSON
(See Instructions)
IA |
EXPLANATORY NOTE
This Amendment No.6 (“Amendment”) amends and supplements the statement on Schedule 13D filed on October 6, 2023, as most recently amended by Amendment No. 5 filed on March 28, 2024 (collectively, the “Original Schedule 13D” and, as amended by this Amendment, the “Schedule 13D”), relating to the shares of Common Stock (“Shares)” of DWS Municipal Income Trust (the “Issuer”). Capitalized terms used but not otherwise defined herein have the meanings set forth in the Original Schedule 13D. Except as specifically provided herein, each Item of the Original Schedule 13D remains unchanged.
ITEM 5 Interest in Securities of the Issuer
Item 5 of Schedule 13D is hereby amended to read as follows:
a) The aggregate percentage of Shares reported owned by Sit Entities herein is based upon 39,172,837 Shares outstanding as of June 30, 2024, which is the total number of Shares outstanding as reported on the Issuer’s website.
As of the date hereof, the Sit Entities may be deemed to be the beneficial owner of 6,123,168 Shares held in client accounts which represent 15.63% of the Issuer’s outstanding Shares.
b) Each of the Sit Entities may be deemed to have shared power to vote and dispose of such Shares. However, none of SIA’s or SFI’s directors or executive officers own Shares directly.
c) Transactions in Shares by the Sit Entities in the last 60 days are set forth in Exhibit A.
d) The clients of SIA and SFI have the right to participate in the receipt of dividends from, or proceeds from the sales of, the Shares held for their respective accounts.
e) Not applicable.
Signature
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete, and correct.
July 17, 2024 | |
By: Sit Investment Associates, Inc. |
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/s/ Roger J. Sit | |
Name/Title: Roger J. Sit, Chairman & CEO |
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By: Sit Fixed Income Advisors II, LLC |
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/s/ Roger J. Sit | |
Name/Title: Roger J. Sit, Chairman & CEO |
EXHIBIT A
Schedule of Transactions in Shares by Sit Entities in the last 60 days:
Date of Transaction | Transaction | Shares of Common Stock | Price Per Share |
05/23/2024 | BUY | 10,000 | 9.36 |
05/28/2024 | SELL | 10,000 | 9.38 |
06/06/2024 | BUY | 800 | 9.43 |
06/06/2024 | BUY | 5,900 | 9.43 |
06/06/2024 | BUY | 7,200 | 9.43 |
06/06/2024 | BUY | 6,400 | 9.43 |
06/06/2024 | BUY | 4,700 | 9.43 |
06/07/2024 | BUY | 3,153 | 9.40 |
06/10/2024 | BUY | 100 | 9.43 |
06/10/2024 | BUY | 1,100 | 9.43 |
06/10/2024 | BUY | 1,475 | 9.43 |
06/10/2024 | BUY | 1,200 | 9.43 |
06/10/2024 | BUY | 900 | 9.43 |
06/11/2024 | BUY | 400 | 9.43 |
06/11/2024 | BUY | 3,400 | 9.43 |
06/11/2024 | BUY | 4,228 | 9.43 |
06/11/2024 | BUY | 3,700 | 9.43 |
06/11/2024 | BUY | 2,700 | 9.43 |
06/14/2024 | BUY | 3,001 | 9.63 |
06/17/2024 | SELL | 2,400 | 9.64 |
06/21/2024 | BUY | 25,000 | 9.55 |
06/24/2024 | BUY | 1,300 | 9.55 |
06/24/2024 | BUY | 22,535 | 9.55 |
06/24/2024 | BUY | 7,000 | 9.55 |
06/25/2024 | BUY | 434 | 9.53 |
06/26/2024 | BUY | 42,200 | 9.51 |
06/27/2024 | BUY | 5,400 | 9.53 |
06/27/2024 | BUY | 900 | 9.53 |
06/27/2024 | BUY | 24,670 | 9.53 |
06/28/2024 | BUY | 4,600 | 9.56 |
06/28/2024 | BUY | 5,700 | 9.56 |
06/28/2024 | BUY | 21,700 | 9.56 |
06/28/2024 | BUY | 3,700 | 9.56 |
06/28/2024 | BUY | 11,000 | 9.56 |
06/28/2024 | BUY | 3,300 | 9.56 |
07/01/2024 | BUY | 8,046 | 9.46 |
07/02/2024 | BUY | 500 | 9.49 |
07/02/2024 | BUY | 24,500 | 9.49 |
07/05/2024 | BUY | 1,444 | 9.60 |
07/08/2024 | BUY | 40,309 | 9.56 |
07/12/2024 | BUY | 2,100 | 9.63 |
07/15/2024 | BUY | 8,300 | 9.68 |
07/15/2024 | BUY | 10,100 | 9.68 |
07/15/2024 | BUY | 6,600 | 9.68 |
07/16/2024 | BUY | 23,895 | 9.69 |