MFS Investment Grade Municipal Trust (NYSE:CXH) Sees Large Drop in Short Interest

MFS Investment Grade Municipal Trust (NYSE:CXH) was the target of a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 37,597 shares, a decrease of 19.4% from the January 15th total of 46,631 shares. Based on an average trading volume of 21,332 shares, the short-interest ratio is currently 1.8 days. Currently, 0.5% of the shares of the company are short sold. Currently, 0.5% of the shares of the company are short sold. Based on an average trading volume of 21,332 shares, the short-interest ratio is currently 1.8 days.

MFS Investment Grade Municipal Trust Stock Performance

NYSE CXH opened at $8.14 on Friday. MFS Investment Grade Municipal Trust has a 52-week low of $7.34 and a 52-week high of $8.21. The firm has a 50-day moving average of $8.01 and a 200-day moving average of $7.87.

MFS Investment Grade Municipal Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be issued a dividend of $0.034 per share. This represents a c) annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, February 17th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thomas J. Herzfeld Advisors Inc. increased its position in MFS Investment Grade Municipal Trust by 0.9% during the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 242,426 shares of the company’s stock worth $1,927,000 after buying an additional 2,055 shares during the period. Bulldog Investors LLP increased its position in MFS Investment Grade Municipal Trust by 22.5% during the fourth quarter. Bulldog Investors LLP now owns 1,201,345 shares of the company’s stock worth $9,551,000 after acquiring an additional 220,851 shares during the period. Closed End Fund Advisors Inc. acquired a new stake in MFS Investment Grade Municipal Trust in the 4th quarter worth about $123,000. Hennion & Walsh Asset Management Inc. boosted its holdings in MFS Investment Grade Municipal Trust by 128.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 112,637 shares of the company’s stock valued at $895,000 after purchasing an additional 63,238 shares during the period. Finally, Susquehanna International Group LLP acquired a new position in shares of MFS Investment Grade Municipal Trust during the 3rd quarter worth approximately $124,000.

About MFS Investment Grade Municipal Trust

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.