MFS Investment Grade Municipal Trust (NYSE:CXH) Sees Significant Increase in Short Interest

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a significant growth in short interest in December. As of December 15th, there was short interest totaling 20,624 shares, a growth of 82.5% from the November 30th total of 11,300 shares. Based on an average trading volume of 36,735 shares, the short-interest ratio is presently 0.6 days. Approximately 0.3% of the company’s shares are short sold. Approximately 0.3% of the company’s shares are short sold. Based on an average trading volume of 36,735 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On MFS Investment Grade Municipal Trust

Several hedge funds and other institutional investors have recently bought and sold shares of CXH. Bulldog Investors LLP boosted its holdings in MFS Investment Grade Municipal Trust by 9.4% in the 3rd quarter. Bulldog Investors LLP now owns 980,494 shares of the company’s stock worth $7,707,000 after acquiring an additional 84,603 shares during the period. Almitas Capital LLC lifted its position in shares of MFS Investment Grade Municipal Trust by 8.8% during the third quarter. Almitas Capital LLC now owns 487,688 shares of the company’s stock worth $3,833,000 after purchasing an additional 39,519 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. boosted its stake in shares of MFS Investment Grade Municipal Trust by 100.5% in the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 241,702 shares of the company’s stock valued at $1,847,000 after purchasing an additional 121,161 shares during the period. Bank of America Corp DE grew its holdings in MFS Investment Grade Municipal Trust by 282.6% during the 3rd quarter. Bank of America Corp DE now owns 66,950 shares of the company’s stock valued at $526,000 after purchasing an additional 49,450 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in MFS Investment Grade Municipal Trust by 62.3% during the 3rd 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 Stock Performance

Shares of NYSE:CXH traded up $0.02 during midday trading on Monday, hitting $7.95. 3,920 shares of the company’s stock traded hands, compared to its average volume of 30,129. The firm’s fifty day moving average price is $7.97 and its two-hundred day moving average price is $7.75. MFS Investment Grade Municipal Trust has a twelve month low of $7.34 and a twelve month high of $8.21.

MFS Investment Grade Municipal Trust Announces Dividend

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

About MFS Investment Grade Municipal Trust

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.