MFS High Income Municipal Trust (NYSE:CXE) Stock Price Down 0.4% – What’s Next?

Shares of MFS High Income Municipal Trust (NYSE:CXE) were down 0.4% on Tuesday . The company traded as low as $3.69 and last traded at $3.7050. Approximately 176,548 shares were traded during mid-day trading, an increase of 29% from the average daily volume of 137,098 shares. The stock had previously closed at $3.72.

MFS High Income Municipal Trust Trading Down 0.4%

The firm’s 50 day moving average is $3.72 and its two-hundred day moving average is $3.64.

MFS High Income Municipal Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.018 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Almitas Capital LLC increased its holdings in MFS High Income Municipal Trust by 13.6% during the 1st quarter. Almitas Capital LLC now owns 1,047,002 shares of the company’s stock worth $3,863,000 after purchasing an additional 125,165 shares during the period. NewEdge Advisors LLC acquired a new position in shares of MFS High Income Municipal Trust during the first quarter worth about $84,000. Allworth Financial LP purchased a new stake in shares of MFS High Income Municipal Trust during the second quarter worth approximately $47,000. Cetera Investment Advisers increased its stake in shares of MFS High Income Municipal Trust by 47.2% during the second quarter. Cetera Investment Advisers now owns 18,412 shares of the company’s stock worth $66,000 after buying an additional 5,903 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. raised its holdings in MFS High Income Municipal Trust by 29.5% in the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 121,587 shares of the company’s stock valued at $435,000 after acquiring an additional 27,708 shares in the last quarter. 34.37% of the stock is owned by institutional investors and hedge funds.

MFS High Income Municipal Trust Company Profile

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.