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

MFS Investment Grade Municipal Trust (NYSE:CXH) was the recipient of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 19,300 shares, a growth of 175.7% from the May 15th total of 7,000 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 17,800 shares, the days-to-cover ratio is currently 1.1 days.

Hedge Funds Weigh In On MFS Investment Grade Municipal Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in CXH. Sit Investment Associates Inc. lifted its stake in MFS Investment Grade Municipal Trust by 50.4% in the fourth quarter. Sit Investment Associates Inc. now owns 560,546 shares of the company’s stock worth $4,479,000 after acquiring an additional 187,786 shares during the period. Bank of New York Mellon Corp lifted its position in shares of MFS Investment Grade Municipal Trust by 41.0% in the 4th 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. Raymond James Financial Inc. bought a new position in shares of MFS Investment Grade Municipal Trust during the fourth quarter valued at approximately $230,000. Bulldog Investors LLP increased its holdings in MFS Investment Grade Municipal Trust by 58.2% during the fourth quarter. Bulldog Investors LLP now owns 710,459 shares of the company’s stock valued at $5,679,000 after buying an additional 261,451 shares during the period. Finally, LPL Financial LLC increased its holdings in MFS Investment Grade Municipal Trust by 52.0% during the fourth quarter. LPL Financial LLC now owns 18,137 shares of the company’s stock valued at $145,000 after buying an additional 6,201 shares during the period.

MFS Investment Grade Municipal Trust Price Performance

CXH stock opened at $7.61 on Friday. MFS Investment Grade Municipal Trust has a 12 month low of $7.36 and a 12 month high of $8.36. The firm’s 50-day moving average is $7.61 and its 200 day moving average is $7.89.

MFS Investment Grade Municipal Trust Announces Dividend

The company also recently announced a — dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a $0.032 dividend. This represents a dividend yield of 4.3%. The ex-dividend date is Tuesday, June 17th.

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.