Short Interest in MFS Investment Grade Municipal Trust (NYSE:CXH) Declines By 55.1%

MFS Investment Grade Municipal Trust (NYSE:CXH) was the target of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 7,000 shares, a decrease of 55.1% from the April 30th total of 15,600 shares. Based on an average daily volume of 14,700 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.1% of the shares of the stock are short sold.

MFS Investment Grade Municipal Trust Price Performance

CXH opened at $7.58 on Friday. MFS Investment Grade Municipal Trust has a one year low of $7.36 and a one year high of $8.36. The company’s 50 day simple moving average is $7.67 and its 200-day simple moving average is $7.93.

MFS Investment Grade Municipal Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 30th. Investors of record on Tuesday, May 13th were issued a $0.0295 dividend. This is a positive change from MFS Investment Grade Municipal Trust’s previous monthly dividend of $0.03. This represents a $0.35 annualized dividend and a yield of 4.67%. The ex-dividend date was Tuesday, May 13th.

Hedge Funds Weigh In On MFS Investment Grade Municipal Trust

Several large investors have recently bought and sold shares of CXH. Noble Wealth Management PBC acquired a new stake in MFS Investment Grade Municipal Trust in the fourth quarter worth $53,000. LPL Financial LLC raised its holdings in MFS Investment Grade Municipal Trust by 52.0% in the fourth quarter. LPL Financial LLC now owns 18,137 shares of the company’s stock worth $145,000 after purchasing an additional 6,201 shares during the period. Raymond James Financial Inc. acquired a new stake in MFS Investment Grade Municipal Trust in the fourth quarter worth $230,000. Bank of New York Mellon Corp raised its holdings in MFS Investment Grade Municipal Trust by 41.0% in the fourth quarter. Bank of New York Mellon Corp now owns 69,402 shares of the company’s stock worth $555,000 after purchasing an additional 20,186 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. raised its holdings in shares of MFS Investment Grade Municipal Trust by 36.5% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 97,088 shares of the company’s stock worth $776,000 after acquiring an additional 25,965 shares during the period.

MFS Investment Grade Municipal Trust Company Profile

MFS Investment Grade Municipal is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets of the United States. It primarily invests in tax-exempt bonds and tax-exempt notes. The fund benchmarks the performance of its portfolio against Barclays Municipal Bond Index.