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

MFS Investment Grade Municipal Trust (NYSE:CXH) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 250,757 shares, a growth of 388.0% from the April 30th total of 51,386 shares. Approximately 3.1% of the company’s shares are short sold. Based on an average daily volume of 91,158 shares, the short-interest ratio is presently 2.8 days.

MFS Investment Grade Municipal Trust Stock Up 0.7%

Shares of NYSE:CXH traded up $0.06 during trading on Friday, hitting $7.67. The stock had a trading volume of 26,820 shares, compared to its average volume of 74,286. MFS Investment Grade Municipal Trust has a 12 month low of $7.34 and a 12 month high of $8.42. The firm’s fifty day moving average is $8.09 and its 200 day moving average is $8.06.

MFS Investment Grade Municipal Trust Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 21st were given a $0.034 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 5.3%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Western Wealth Management LLC bought a new position in MFS Investment Grade Municipal Trust during the 1st quarter valued at approximately $54,000. Rivernorth Capital Management LLC increased its position in MFS Investment Grade Municipal Trust by 14.0% during the 1st quarter. Rivernorth Capital Management LLC now owns 576,479 shares of the company’s stock valued at $4,606,000 after buying an additional 70,996 shares in the last quarter. Bank of New York Mellon Corp increased its position in MFS Investment Grade Municipal Trust by 109.6% during the 1st quarter. Bank of New York Mellon Corp now owns 62,969 shares of the company’s stock valued at $503,000 after buying an additional 32,925 shares in the last quarter. Evolve Private Wealth LLC increased its position in MFS Investment Grade Municipal Trust by 33.9% during the 1st quarter. Evolve Private Wealth LLC now owns 20,755 shares of the company’s stock valued at $166,000 after buying an additional 5,255 shares in the last quarter. Finally, Focus Partners Wealth bought a new position in MFS Investment Grade Municipal Trust during the 4th quarter valued at approximately $2,166,000.

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.