MFS Investment Grade Municipal Trust (NYSE:CXH) Stock Price Down 0.4% – Here’s Why

MFS Investment Grade Municipal Trust (NYSE:CXH) was down 0.4% during trading on Wednesday . The stock traded as low as $7.84 and last traded at $7.85. Approximately 15,423 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 20,425 shares. The stock had previously closed at $7.88.

MFS Investment Grade Municipal Trust Stock Down 0.4%

The company has a fifty day moving average of $7.56 and a two-hundred day moving average of $7.64.

MFS Investment Grade Municipal Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.034 dividend. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date is Tuesday, September 16th.

Institutional Investors Weigh In On MFS Investment Grade Municipal Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in shares of MFS Investment Grade Municipal Trust by 11.9% during the second quarter. Bank of America Corp DE now owns 17,500 shares of the company’s stock worth $134,000 after buying an additional 1,860 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of MFS Investment Grade Municipal Trust by 8.2% during the first quarter. Bank of New York Mellon Corp now owns 75,105 shares of the company’s stock worth $595,000 after buying an additional 5,703 shares during the last quarter. Sit Investment Associates Inc. raised its stake in shares of MFS Investment Grade Municipal Trust by 2.2% in the first quarter. Sit Investment Associates Inc. now owns 572,689 shares of the company’s stock valued at $4,536,000 after purchasing an additional 12,143 shares in the last quarter. American National Bank & Trust acquired a new position in shares of MFS Investment Grade Municipal Trust in the second quarter valued at $153,000. Finally, Thomas J. Herzfeld Advisors Inc. raised its stake in shares of MFS Investment Grade Municipal Trust by 24.2% in the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 120,541 shares of the company’s stock valued at $955,000 after purchasing an additional 23,453 shares in the last quarter.

About MFS Investment Grade Municipal Trust

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.