Short Interest in MFS Investment Grade Municipal Trust (NYSE:CXH) Rises By 87.2%

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 38,598 shares, a growth of 87.2% from the December 15th total of 20,624 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 20,811 shares, the short-interest ratio is presently 1.9 days. Based on an average daily trading volume, of 20,811 shares, the short-interest ratio is presently 1.9 days. Currently, 0.5% of the company’s shares are short sold.

MFS Investment Grade Municipal Trust Stock Down 0.1%

Shares of CXH traded down $0.01 during midday trading on Friday, reaching $8.06. The company had a trading volume of 5,208 shares, compared to its average volume of 12,645. MFS Investment Grade Municipal Trust has a 1-year low of $7.34 and a 1-year high of $8.21. The firm has a 50 day simple moving average of $7.97 and a 200-day simple moving average of $7.79.

MFS Investment Grade Municipal Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Tuesday, January 20th will be paid a dividend of $0.034 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a c) dividend on an annualized basis and a yield of 5.1%.

Institutional Trading of MFS Investment Grade Municipal Trust

Several hedge funds have recently made changes to their positions in the company. Center for Financial Planning Inc. purchased a new stake in shares of MFS Investment Grade Municipal Trust during the 3rd quarter valued at approximately $36,000. Susquehanna International Group LLP purchased a new stake in MFS Investment Grade Municipal Trust in the third quarter valued at $124,000. Bank of America Corp DE lifted its stake in shares of MFS Investment Grade Municipal Trust by 11.9% in the 2nd quarter. Bank of America Corp DE now owns 17,500 shares of the company’s stock valued at $134,000 after purchasing an additional 1,860 shares during the last quarter. American National Bank & Trust purchased a new position in MFS Investment Grade Municipal Trust during the second quarter worth about $153,000. Finally, Raymond James Financial Inc. raised its stake in shares of MFS Investment Grade Municipal Trust by 62.3% in the 3rd quarter. Raymond James Financial Inc. now owns 31,813 shares of the company’s stock valued at $250,000 after acquiring an additional 12,217 shares during the period.

MFS Investment Grade Municipal Trust Company Profile

MFS Investment Grade Municipal Trust (NYSE: CXH) is a non-diversified, closed-end management investment company that seeks to provide shareholders with current income exempt from federal income taxes. Trading on the New York Stock Exchange since its inception in 1982, the fund primarily acquires investment-grade municipal securities, including general obligation and revenue bonds issued by states, municipalities and public authorities across the United States.

The trust’s portfolio is constructed to balance credit quality and yield, focusing on bonds rated BBB or higher by nationally recognized rating agencies.