Mfs Hi Yld (NYSE:CMU) Trading Up 0.1% – Should You Buy?

Mfs Hi Yld (NYSE:CMU) shares were up 0.1% during trading on Tuesday . The company traded as high as $3.52 and last traded at $3.5150. Approximately 21,867 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 48,769 shares. The stock had previously closed at $3.51.

Mfs Hi Yld Stock Performance

The firm’s 50 day moving average price is $3.42 and its 200-day moving average price is $3.36.

Mfs Hi Yld Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 14th will be paid a dividend of $0.0165 per share. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, October 14th.

Institutional Investors Weigh In On Mfs Hi Yld

Several hedge funds have recently modified their holdings of the company. Spirepoint Private Client LLC purchased a new position in Mfs Hi Yld in the 3rd quarter valued at about $56,000. Cetera Investment Advisers lifted its stake in Mfs Hi Yld by 26.8% in the 2nd quarter. Cetera Investment Advisers now owns 25,746 shares of the company’s stock valued at $86,000 after buying an additional 5,445 shares in the last quarter. Bank of America Corp DE lifted its stake in Mfs Hi Yld by 46.2% in the 2nd quarter. Bank of America Corp DE now owns 94,893 shares of the company’s stock valued at $316,000 after buying an additional 30,000 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Mfs Hi Yld by 32.2% in the 1st quarter. Bank of New York Mellon Corp now owns 287,416 shares of the company’s stock valued at $1,003,000 after buying an additional 70,000 shares in the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. lifted its stake in Mfs Hi Yld by 24.2% in the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 353,305 shares of the company’s stock valued at $1,233,000 after buying an additional 68,945 shares in the last quarter. 32.39% of the stock is owned by hedge funds and other institutional investors.

About Mfs Hi Yld

MFS High Yield Municipal Trust 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.