MFS Investment Grade Municipal Trust (NYSE:CXH) Short Interest Down 96.4% in May

MFS Investment Grade Municipal Trust (NYSE:CXH) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 8,930 shares, a drop of 96.4% from the May 14th total of 250,757 shares. Based on an average trading volume of 56,644 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

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 company. Western Wealth Management LLC acquired a new stake in MFS Investment Grade Municipal Trust during the 1st quarter valued at $54,000. Rivernorth Capital Management LLC boosted its holdings in MFS Investment Grade Municipal Trust by 14.0% in the first quarter. Rivernorth Capital Management LLC now owns 576,479 shares of the company’s stock valued at $4,606,000 after purchasing an additional 70,996 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in MFS Investment Grade Municipal Trust by 109.6% in the first quarter. Bank of New York Mellon Corp now owns 62,969 shares of the company’s stock valued at $503,000 after purchasing an additional 32,925 shares during the last quarter. Evolve Private Wealth LLC boosted its holdings in MFS Investment Grade Municipal Trust by 33.9% in the first quarter. Evolve Private Wealth LLC now owns 20,755 shares of the company’s stock valued at $166,000 after purchasing an additional 5,255 shares during the last quarter. Finally, Focus Partners Wealth purchased a new position in MFS Investment Grade Municipal Trust in the fourth quarter valued at about $2,166,000.

MFS Investment Grade Municipal Trust Stock Performance

Shares of CXH stock traded down $0.02 during mid-day trading on Wednesday, reaching $7.62. The company’s stock had a trading volume of 83,792 shares, compared to its average volume of 46,236. The company’s 50 day simple moving average is $8.03 and its 200-day simple moving average is $8.04. MFS Investment Grade Municipal Trust has a 12-month low of $7.34 and a 12-month high of $8.42.

MFS Investment Grade Municipal Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 21st were paid a $0.034 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Thursday, May 21st.

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.