MFS High Income Municipal Trust (NYSE:CXE) Short Interest Up 127.0% in May

MFS High Income Municipal Trust (NYSE:CXE) saw a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 57,913 shares, a growth of 127.0% from the May 14th total of 25,512 shares. Based on an average daily trading volume, of 123,881 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the company’s shares are sold short.

MFS High Income Municipal Trust Trading Up 0.1%

NYSE:CXE traded up $0.01 during midday trading on Friday, reaching $3.66. 63,443 shares of the stock traded hands, compared to its average volume of 91,750. The company has a fifty day moving average of $3.70 and a 200 day moving average of $3.74. MFS High Income Municipal Trust has a 12 month low of $3.40 and a 12 month high of $3.88.

MFS High Income Municipal Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 21st were given a dividend of $0.018 per share. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Thursday, May 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG increased its position in MFS High Income Municipal Trust by 76.4% during the 4th quarter. UBS Group AG now owns 1,235,110 shares of the company’s stock valued at $4,570,000 after purchasing an additional 535,091 shares during the period. Almitas Capital LLC increased its position in MFS High Income Municipal Trust by 8.2% during the 4th quarter. Almitas Capital LLC now owns 1,193,886 shares of the company’s stock valued at $4,417,000 after purchasing an additional 90,456 shares during the period. Bank of America Corp DE increased its position in MFS High Income Municipal Trust by 4.0% during the 3rd quarter. Bank of America Corp DE now owns 1,049,363 shares of the company’s stock valued at $3,904,000 after purchasing an additional 40,753 shares during the period. Summit Financial LLC increased its position in MFS High Income Municipal Trust by 20.8% during the 4th quarter. Summit Financial LLC now owns 608,800 shares of the company’s stock valued at $2,253,000 after purchasing an additional 104,750 shares during the period. Finally, Whitebox Advisors LLC increased its position in MFS High Income Municipal Trust by 7.4% during the 2nd quarter. Whitebox Advisors LLC now owns 483,300 shares of the company’s stock valued at $1,730,000 after purchasing an additional 33,258 shares during the period. 34.37% of the stock is owned by hedge funds and other institutional investors.

About MFS High Income Municipal Trust

MFS High Income Municipal Trust (NYSE: CXE) is a diversified, closed-end management investment company that seeks to provide shareholders with high current income exempt from regular federal income tax. The fund achieves this objective by investing primarily in a portfolio of municipal obligations, which may include general obligation bonds, revenue bonds and other municipal securities issued by state and local governments throughout the United States.

The trust focuses on both investment-grade and below-investment-grade municipal securities, aiming to capture wider spreads in the high-yield segment of the municipal bond market.