Short Interest in MFS Investment Grade Municipal Trust (NYSE:CXH) Drops By 19.2%

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 31,018 shares, a drop of 19.2% from the March 31st total of 38,382 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily volume of 57,817 shares, the short-interest ratio is presently 0.5 days.

MFS Investment Grade Municipal Trust Stock Performance

CXH traded up $0.01 during trading on Thursday, hitting $8.35. The stock had a trading volume of 272,410 shares, compared to its average volume of 73,772. The company has a 50 day moving average price of $8.21 and a 200-day moving average price of $8.07. MFS Investment Grade Municipal Trust has a one year low of $7.34 and a one year high of $8.42.

MFS Investment Grade Municipal Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, April 14th will be given a $0.034 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, April 14th.

Hedge Funds Weigh In On MFS Investment Grade Municipal Trust

A number of hedge funds have recently bought and sold shares of CXH. Evolve Private Wealth LLC raised its stake in MFS Investment Grade Municipal Trust by 33.9% in the 1st quarter. Evolve Private Wealth LLC now owns 20,755 shares of the company’s stock worth $166,000 after purchasing an additional 5,255 shares in the last quarter. Rivernorth Capital Management LLC raised its position in shares of MFS Investment Grade Municipal Trust by 7.2% in the fourth quarter. Rivernorth Capital Management LLC now owns 505,483 shares of the company’s stock valued at $4,019,000 after buying an additional 33,875 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of MFS Investment Grade Municipal Trust in the fourth quarter valued at approximately $2,166,000. Thomas J. Herzfeld Advisors Inc. grew its position in MFS Investment Grade Municipal Trust by 0.9% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 242,426 shares of the company’s stock worth $1,927,000 after buying an additional 2,055 shares in the last quarter. Finally, Bulldog Investors LLP grew its position in MFS Investment Grade Municipal Trust by 22.5% during the fourth quarter. Bulldog Investors LLP now owns 1,201,345 shares of the company’s stock worth $9,551,000 after buying an additional 220,851 shares in the last quarter.

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.