MFS Investment Grade Municipal Trust (NYSE:CXH) Sees Significant Decrease in Short Interest

MFS Investment Grade Municipal Trust (NYSE:CXH) was the recipient of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 37,597 shares, a drop of 19.4% from the January 15th total of 46,631 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily trading volume, of 21,332 shares, the short-interest ratio is currently 1.8 days. Based on an average daily trading volume, of 21,332 shares, the short-interest ratio is currently 1.8 days. Currently, 0.5% of the company’s stock are short sold.

MFS Investment Grade Municipal Trust Trading Down 0.4%

MFS Investment Grade Municipal Trust stock traded down $0.03 during midday trading on Tuesday, hitting $8.11. 3,435 shares of the company’s stock were exchanged, compared to its average volume of 15,662. The firm’s 50 day simple moving average is $8.01 and its 200 day simple moving average is $7.88. MFS Investment Grade Municipal Trust has a 12-month low of $7.34 and a 12-month high of $8.21.

MFS Investment Grade Municipal Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be issued a $0.034 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a c) dividend on an annualized basis and a yield of 5.0%.

Institutional Trading of MFS Investment Grade Municipal Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Thomas J. Herzfeld Advisors Inc. lifted its holdings in MFS Investment Grade Municipal Trust by 100.5% in the 2nd quarter. Thomas J. Herzfeld Advisors Inc. now owns 241,702 shares of the company’s stock valued at $1,847,000 after purchasing an additional 121,161 shares in the last quarter. Bank of America Corp DE boosted its position in MFS Investment Grade Municipal Trust by 11.9% during the 2nd quarter. Bank of America Corp DE now owns 17,500 shares of the company’s stock worth $134,000 after purchasing an additional 1,860 shares during the period. Center for Financial Planning Inc. purchased a new stake in shares of MFS Investment Grade Municipal Trust during the 3rd quarter valued at about $36,000. Raymond James Financial Inc. raised its stake in shares of MFS Investment Grade Municipal Trust by 62.3% during the third quarter. Raymond James Financial Inc. now owns 31,813 shares of the company’s stock valued at $250,000 after purchasing an additional 12,217 shares during the period. Finally, Almitas Capital LLC lifted its holdings in MFS Investment Grade Municipal Trust by 8.8% in the 3rd quarter. Almitas Capital LLC now owns 487,688 shares of the company’s stock worth $3,833,000 after buying an additional 39,519 shares in the last quarter.

About MFS Investment Grade Municipal Trust

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.