Short Interest in MFS Investment Grade Municipal Trust (NYSE:CXH) Drops By 96.4%

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a significant decrease in short interest in May. As of May 29th, there was short interest totaling 8,930 shares, a decrease of 96.4% from the May 14th total of 250,757 shares. Based on an average trading volume of 56,644 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its position in MFS Investment Grade Municipal Trust by 11.9% in the second 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 in the last quarter. Thomas J. Herzfeld Advisors Inc. lifted its stake in MFS Investment Grade Municipal Trust by 0.9% in the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 242,426 shares of the company’s stock valued at $1,927,000 after acquiring an additional 2,055 shares during the last quarter. Center for Financial Planning Inc. acquired a new stake in MFS Investment Grade Municipal Trust in the third quarter valued at $36,000. Evolve Private Wealth LLC lifted its stake in MFS Investment Grade Municipal Trust by 33.9% in the first quarter. Evolve Private Wealth LLC now owns 20,755 shares of the company’s stock valued at $166,000 after acquiring an additional 5,255 shares during the last quarter. Finally, Western Wealth Management LLC acquired a new stake in MFS Investment Grade Municipal Trust in the first quarter valued at $54,000.

MFS Investment Grade Municipal Trust Stock Down 0.2%

Shares of CXH stock traded down $0.02 during trading hours on Tuesday, hitting $7.62. 83,792 shares of the company were exchanged, compared to its average volume of 46,236. The business has a 50 day moving average of $8.03 and a two-hundred day moving average of $8.04. MFS Investment Grade Municipal Trust has a 52 week low of $7.34 and a 52 week high of $8.42.

MFS Investment Grade Municipal Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 21st were given a dividend of $0.034 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 5.4%.

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.