MFS Investment Grade Municipal Trust (NYSE:CXH) Short Interest Update

MFS Investment Grade Municipal Trust (NYSE:CXH) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 250,757 shares, a growth of 388.0% from the April 30th total of 51,386 shares. Based on an average trading volume of 91,158 shares, the days-to-cover ratio is presently 2.8 days. Approximately 3.1% of the shares of the stock are sold short.

MFS Investment Grade Municipal Trust Price Performance

Shares of MFS Investment Grade Municipal Trust stock traded up $0.06 during mid-day trading on Friday, reaching $7.67. 26,820 shares of the stock traded hands, compared to its average volume of 74,286. The business has a 50-day moving average of $8.09 and a 200 day moving average of $8.06. MFS Investment Grade Municipal Trust has a fifty-two week low of $7.34 and a fifty-two week high of $8.42.

MFS Investment Grade Municipal Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be given a $0.034 dividend. The ex-dividend date is Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%.

Institutional Investors Weigh In On MFS Investment Grade Municipal Trust

A number of large investors have recently made changes to their positions in the stock. Western Wealth Management LLC purchased a new stake in shares of MFS Investment Grade Municipal Trust in the first quarter valued at approximately $54,000. Rivernorth Capital Management LLC grew its position in shares of MFS Investment Grade Municipal Trust by 14.0% in the first quarter. Rivernorth Capital Management LLC now owns 576,479 shares of the company’s stock valued at $4,606,000 after purchasing an additional 70,996 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of MFS Investment Grade Municipal Trust by 109.6% in the first quarter. Bank of New York Mellon Corp now owns 62,969 shares of the company’s stock valued at $503,000 after purchasing an additional 32,925 shares in the last quarter. Evolve Private Wealth LLC grew its position in shares of 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 purchasing an additional 5,255 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in shares of MFS Investment Grade Municipal Trust in the fourth quarter valued at approximately $2,166,000.

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.