Short Interest in MFS Investment Grade Municipal Trust (NYSE:CXH) Grows By 82.5%

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

MFS Investment Grade Municipal Trust Price Performance

CXH stock opened at $7.93 on Friday. The firm has a 50 day moving average of $7.97 and a two-hundred day moving average of $7.75. MFS Investment Grade Municipal Trust has a 12 month low of $7.34 and a 12 month high of $8.21.

MFS Investment Grade Municipal Trust Announces Dividend

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

Institutional Investors Weigh In On MFS Investment Grade Municipal Trust

A number of large investors have recently added to or reduced their stakes in the stock. Thomas J. Herzfeld Advisors Inc. boosted its holdings in shares of MFS Investment Grade Municipal Trust by 100.5% during the 2nd quarter. Thomas J. Herzfeld Advisors Inc. now owns 241,702 shares of the company’s stock worth $1,847,000 after buying an additional 121,161 shares during the period. American National Bank & Trust bought a new stake in MFS Investment Grade Municipal Trust during the 2nd quarter valued at approximately $153,000. Center for Financial Planning Inc. bought a new position in MFS Investment Grade Municipal Trust in the 3rd quarter worth approximately $36,000. Bulldog Investors LLP increased its position 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 buying an additional 84,603 shares during the period. Finally, Almitas Capital LLC lifted its holdings 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 buying an additional 39,519 shares during 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.