MFS High Income Municipal Trust (NYSE:CXE) Sees Large Decrease in Short Interest

MFS High Income Municipal Trust (NYSE:CXE) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 3,616 shares, a drop of 88.1% from the December 15th total of 30,470 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 150,196 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily trading volume, of 150,196 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

MFS High Income Municipal Trust Stock Down 0.1%

NYSE CXE traded down $0.01 on Monday, reaching $3.75. The company had a trading volume of 58,723 shares, compared to its average volume of 127,236. MFS High Income Municipal Trust has a 1 year low of $3.38 and a 1 year high of $3.85. The firm has a 50-day moving average of $3.72 and a 200-day moving average of $3.65.

MFS High Income Municipal Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Tuesday, January 20th will be issued a dividend of $0.018 per share. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Tuesday, January 20th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in shares of MFS High Income Municipal Trust by 4.0% during the third quarter. Bank of America Corp DE now owns 1,049,363 shares of the company’s stock worth $3,904,000 after purchasing an additional 40,753 shares during the last quarter. Whitebox Advisors LLC raised its stake in MFS High Income Municipal Trust by 7.4% during the second quarter. Whitebox Advisors LLC now owns 483,300 shares of the company’s stock valued at $1,730,000 after buying an additional 33,258 shares in the last quarter. Bulldog Investors LLP lifted its holdings in MFS High Income Municipal Trust by 1.4% during the 3rd quarter. Bulldog Investors LLP now owns 449,633 shares of the company’s stock worth $1,673,000 after buying an additional 6,002 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. grew its position in shares of MFS High Income Municipal Trust by 29.5% in the 2nd quarter. Thomas J. Herzfeld Advisors Inc. now owns 121,587 shares of the company’s stock worth $435,000 after acquiring an additional 27,708 shares in the last quarter. Finally, Truist Financial Corp grew its position in shares of MFS High Income Municipal Trust by 5.7% in the 3rd quarter. Truist Financial Corp now owns 94,195 shares of the company’s stock worth $350,000 after acquiring an additional 5,094 shares in the last quarter. 34.37% of the stock is owned by institutional investors and hedge funds.

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.