MFS Investment Grade Municipal Trust (NYSE:CXH) Sees Large Decline in Short Interest

MFS Investment Grade Municipal Trust (NYSE:CXHGet Rating) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 2,700 shares, a drop of 35.7% from the March 31st total of 4,200 shares. Based on an average daily trading volume, of 24,200 shares, the days-to-cover ratio is presently 0.1 days.

CXH stock traded down $0.02 during trading on Friday, reaching $7.88. 26,751 shares of the stock were exchanged, compared to its average volume of 26,826. MFS Investment Grade Municipal Trust has a twelve month low of $7.77 and a twelve month high of $10.74. The business’s 50 day simple moving average is $8.47.

The company also recently announced a monthly dividend, which was paid on Friday, April 29th. Investors of record on Wednesday, April 20th were given a dividend of $0.029 per share. This represents a $0.35 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Tuesday, April 19th.

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital Investment Advisors LLC grew its position in MFS Investment Grade Municipal Trust by 2.9% during the first quarter. Capital Investment Advisors LLC now owns 44,137 shares of the company’s stock worth $377,000 after buying an additional 1,255 shares in the last quarter. QP Wealth Management LLC grew its position in MFS Investment Grade Municipal Trust by 3.8% during the first quarter. QP Wealth Management LLC now owns 40,725 shares of the company’s stock worth $348,000 after buying an additional 1,500 shares in the last quarter. Morgan Stanley grew its position in MFS Investment Grade Municipal Trust by 3.6% during the second quarter. Morgan Stanley now owns 77,305 shares of the company’s stock worth $795,000 after buying an additional 2,688 shares in the last quarter. Janney Montgomery Scott LLC grew its position in MFS Investment Grade Municipal Trust by 11.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 32,954 shares of the company’s stock worth $340,000 after buying an additional 3,452 shares in the last quarter. Finally, Van ECK Associates Corp acquired a new stake in MFS Investment Grade Municipal Trust during the fourth quarter worth about $45,000. 15.74% of the stock is currently owned by institutional investors and hedge funds.

MFS Investment Grade Municipal Trust Company Profile (Get Rating)

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.

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