MFS Investment Grade Municipal Trust (NYSE:CXH) Shares Up 0.4% – Should You Buy?

MFS Investment Grade Municipal Trust (NYSE:CXH)’s share price shot up 0.4% during mid-day trading on Tuesday . The company traded as high as $7.99 and last traded at $7.97. 25,742 shares were traded during trading, an increase of 56% from the average session volume of 16,493 shares. The stock had previously closed at $7.94.

MFS Investment Grade Municipal Trust Trading Up 0.4%

The firm’s fifty day moving average is $7.94 and its 200-day moving average is $7.69.

MFS Investment Grade Municipal Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 28th. Stockholders of record on Tuesday, November 18th will be issued a $0.034 dividend. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Tuesday, November 18th.

Hedge Funds Weigh In On MFS Investment Grade Municipal Trust

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its position in MFS Investment Grade Municipal Trust by 11.9% during the 2nd 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 in the last quarter. Center for Financial Planning Inc. bought a new position in shares of MFS Investment Grade Municipal Trust in the third quarter worth about $36,000. Bank of New York Mellon Corp lifted its position 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 purchasing an additional 5,703 shares in the last quarter. Sit Investment Associates Inc. grew its stake in shares of MFS Investment Grade Municipal Trust by 2.2% during 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 during the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of MFS Investment Grade Municipal Trust by 62.3% in the third quarter. Raymond James Financial Inc. now owns 31,813 shares of the company’s stock valued at $250,000 after purchasing an additional 12,217 shares in the last quarter.

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.