Short Interest in MFS Investment Grade Municipal Trust (NYSE:CXH) Grows By 82.5%

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a large increase in short interest in December. As of December 15th, there was short interest totaling 20,624 shares, an increase of 82.5% from the November 30th total of 11,300 shares. Based on an average daily volume of 36,735 shares, the short-interest ratio is currently 0.6 days. Currently, 0.3% of the shares of the stock are sold short. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 36,735 shares, the short-interest ratio is currently 0.6 days.

Hedge Funds Weigh In On MFS Investment Grade Municipal Trust

A number of hedge funds have recently modified their holdings of CXH. Bulldog Investors LLP lifted its holdings in shares of MFS Investment Grade Municipal Trust by 9.4% during the third quarter. Bulldog Investors LLP now owns 980,494 shares of the company’s stock valued at $7,707,000 after purchasing an additional 84,603 shares during the last quarter. Almitas Capital LLC raised its holdings in MFS Investment Grade Municipal Trust by 8.8% during the 3rd quarter. Almitas Capital LLC now owns 487,688 shares of the company’s stock worth $3,833,000 after buying an additional 39,519 shares during the period. Thomas J. Herzfeld Advisors Inc. raised its holdings in MFS Investment Grade Municipal Trust by 100.5% during the 2nd quarter. Thomas J. Herzfeld Advisors Inc. now owns 241,702 shares of the company’s stock worth $1,847,000 after buying an additional 121,161 shares during the period. Bank of America Corp DE lifted its stake in MFS Investment Grade Municipal Trust by 282.6% during the third quarter. Bank of America Corp DE now owns 66,950 shares of the company’s stock valued at $526,000 after buying an additional 49,450 shares in the last quarter. Finally, Raymond James Financial Inc. boosted 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 worth $250,000 after buying an additional 12,217 shares during the period.

MFS Investment Grade Municipal Trust Trading Down 0.5%

NYSE CXH opened at $7.93 on Friday. MFS Investment Grade Municipal Trust has a 12 month low of $7.34 and a 12 month high of $8.21. The company’s 50 day simple moving average is $7.97 and its 200 day simple moving average is $7.75.

MFS Investment Grade Municipal Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.034 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Tuesday, December 16th.

MFS Investment Grade Municipal Trust Company Profile

MFS Investment Grade Municipal Trust (NYSE: CXH) is a non-diversified, closed-end management investment company that seeks to provide shareholders with current income exempt from federal income taxes. Trading on the New York Stock Exchange since its inception in 1982, the fund primarily acquires investment-grade municipal securities, including general obligation and revenue bonds issued by states, municipalities and public authorities across the United States.

The trust’s portfolio is constructed to balance credit quality and yield, focusing on bonds rated BBB or higher by nationally recognized rating agencies.