Short Interest in MFS High Income Municipal Trust (NYSE:CXE) Drops By 34.5%

MFS High Income Municipal Trust (NYSE:CXE) was the target of a large drop in short interest in December. As of December 15th, there was short interest totaling 30,470 shares, a drop of 34.5% from the November 30th total of 46,498 shares. Based on an average daily volume of 152,668 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are sold short. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 152,668 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On MFS High Income Municipal Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Almitas Capital LLC increased its stake in MFS High Income Municipal Trust by 13.6% in the first quarter. Almitas Capital LLC now owns 1,047,002 shares of the company’s stock valued at $3,863,000 after purchasing an additional 125,165 shares during the last quarter. Riverbridge Partners LLC acquired a new position in shares of MFS High Income Municipal Trust in the 3rd quarter valued at $322,000. Catalina Capital Group LLC purchased a new position in shares of MFS High Income Municipal Trust in the 3rd quarter valued at $297,000. NewEdge Advisors LLC raised its stake in MFS High Income Municipal Trust by 185.0% during the 3rd quarter. NewEdge Advisors LLC now owns 93,180 shares of the company’s stock worth $347,000 after acquiring an additional 60,480 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in MFS High Income Municipal Trust by 4.0% during the 3rd quarter. Bank of America Corp DE now owns 1,049,363 shares of the company’s stock worth $3,904,000 after acquiring an additional 40,753 shares in the last quarter. 34.37% of the stock is owned by institutional investors and hedge funds.

MFS High Income Municipal Trust Stock Performance

Shares of CXE stock traded up $0.01 on Tuesday, reaching $3.70. 118,588 shares of the stock were exchanged, compared to its average volume of 144,646. The business’s 50 day moving average price is $3.72 and its 200 day moving average price is $3.64. MFS High Income Municipal Trust has a twelve month low of $3.38 and a twelve month high of $3.85.

MFS High Income Municipal Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a $0.018 dividend. The ex-dividend date is Tuesday, December 16th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%.

MFS High Income Municipal Trust Company Profile

MFS High Income Municipal Trust (NYSE: CXE) is a diversified, closed-end management investment company that seeks to provide shareholders with high current income exempt from regular federal income tax. The fund achieves this objective by investing primarily in a portfolio of municipal obligations, which may include general obligation bonds, revenue bonds and other municipal securities issued by state and local governments throughout the United States.

The trust focuses on both investment-grade and below-investment-grade municipal securities, aiming to capture wider spreads in the high-yield segment of the municipal bond market.