MFS High Income Municipal Trust (NYSE:CXE) Shares Up 0.1% – Should You Buy?

Shares of MFS High Income Municipal Trust (NYSE:CXE) rose 0.1% on Tuesday . The company traded as high as $3.70 and last traded at $3.6550. 63,443 shares traded hands during trading, a decline of 31% from the average daily volume of 91,750 shares. The stock had previously closed at $3.65.

MFS High Income Municipal Trust Trading Up 0.1%

The company’s 50-day simple moving average is $3.68 and its 200 day simple moving average is $3.73.

MFS High Income Municipal Trust Announces Dividend

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

Institutional Investors Weigh In On MFS High Income Municipal Trust

Institutional investors have recently added to or reduced their stakes in the business. Closed End Fund Advisors Inc. acquired a new stake in MFS High Income Municipal Trust in the 4th quarter worth approximately $997,000. UBS Group AG increased its stake 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 in the last quarter. Melfa Wealth Management Inc. raised its holdings in shares of MFS High Income Municipal Trust by 9.7% in the fourth quarter. Melfa Wealth Management Inc. now owns 165,291 shares of the company’s stock worth $612,000 after buying an additional 14,658 shares during the last quarter. Bulldog Investors LLP lifted its stake in shares of MFS High Income Municipal Trust by 1.4% during the third quarter. Bulldog Investors LLP now owns 449,633 shares of the company’s stock worth $1,673,000 after buying an additional 6,002 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of MFS High Income Municipal Trust by 20.9% during the first quarter. NewEdge Advisors LLC now owns 201,166 shares of the company’s stock worth $746,000 after buying an additional 34,737 shares during the period. Institutional investors and hedge funds own 34.37% of the company’s stock.

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.