MFS High Income Municipal Trust (NYSE:CXE) Sees Significant Decline in Short Interest

MFS High Income Municipal Trust (NYSE:CXE) was the target of a large drop in short interest in February. As of February 27th, there was short interest totaling 44,049 shares, a drop of 54.3% from the February 12th total of 96,351 shares. Based on an average trading volume of 73,112 shares, the short-interest ratio is currently 0.6 days. Approximately 0.1% of the company’s stock are sold short. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 73,112 shares, the short-interest ratio is currently 0.6 days.

MFS High Income Municipal Trust Stock Performance

Shares of CXE stock traded up $0.01 on Thursday, hitting $3.80. The stock had a trading volume of 36,907 shares, compared to its average volume of 63,848. The business has a 50 day moving average of $3.79 and a 200 day moving average of $3.73. MFS High Income Municipal Trust has a 12-month low of $3.38 and a 12-month high of $3.88.

MFS High Income Municipal Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a $0.018 dividend. This represents a c) annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Tuesday, March 17th.

Institutional Investors Weigh In On MFS High Income Municipal Trust

A number of hedge funds have recently made changes to their positions in CXE. NewEdge Advisors LLC bought a new stake in MFS High Income Municipal Trust in the 1st quarter worth $84,000. Allworth Financial LP purchased a new position in shares of MFS High Income Municipal Trust in the 2nd quarter worth about $47,000. Cetera Investment Advisers increased its stake in MFS High Income Municipal Trust by 47.2% during the 2nd quarter. Cetera Investment Advisers now owns 18,412 shares of the company’s stock valued at $66,000 after purchasing an additional 5,903 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. increased its position in shares of MFS High Income Municipal Trust by 29.5% during 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. Finally, Whitebox Advisors LLC lifted its holdings in shares of MFS High Income Municipal Trust by 7.4% during the second 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 in the last quarter. 34.37% of the stock is currently owned by 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.