Short Interest in MFS Investment Grade Municipal Trust (NYSE:CXH) Drops By 96.4%

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 8,930 shares, a drop of 96.4% from the May 14th total of 250,757 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 56,644 shares, the days-to-cover ratio is presently 0.2 days.

MFS Investment Grade Municipal Trust Stock Performance

Shares of NYSE CXH traded down $0.02 during mid-day trading on Tuesday, reaching $7.62. 83,792 shares of the company were exchanged, compared to its average volume of 46,236. The company’s 50-day simple moving average is $8.03 and its 200-day simple moving average is $8.04. MFS Investment Grade Municipal Trust has a twelve month low of $7.34 and a twelve month high of $8.42.

MFS Investment Grade Municipal Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.034 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Thursday, May 21st.

Institutional Trading of MFS Investment Grade Municipal Trust

A number of hedge funds have recently modified their holdings of CXH. Focus Partners Wealth acquired a new stake in shares of MFS Investment Grade Municipal Trust during the 4th quarter worth about $2,166,000. Bulldog Investors LLP lifted its stake in shares of MFS Investment Grade Municipal Trust by 22.5% during the 4th 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 during the last quarter. Rivernorth Capital Management LLC lifted its stake in shares of 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 worth $4,606,000 after buying an additional 70,996 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of MFS Investment Grade Municipal Trust by 128.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 112,637 shares of the company’s stock worth $895,000 after buying an additional 63,238 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in MFS Investment Grade Municipal Trust by 282.6% in the 3rd quarter. Bank of America Corp DE now owns 66,950 shares of the company’s stock worth $526,000 after purchasing an additional 49,450 shares in the last quarter.

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.