MFS Investment Grade Municipal Trust (NYSE:CXH) Short Interest Update

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 22,400 shares, a growth of 56.6% from the February 28th total of 14,300 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 16,000 shares, the days-to-cover ratio is currently 1.4 days.

MFS Investment Grade Municipal Trust Stock Up 0.1 %

MFS Investment Grade Municipal Trust stock traded up $0.01 during trading hours on Friday, hitting $7.88. The stock had a trading volume of 5,237 shares, compared to its average volume of 17,716. The stock’s 50-day moving average price is $8.04 and its 200-day moving average price is $8.09. MFS Investment Grade Municipal Trust has a 12-month low of $7.30 and a 12-month high of $8.36.

MFS Investment Grade Municipal Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.0275 per share. This represents a $0.33 annualized dividend and a yield of 4.19%. This is an increase from MFS Investment Grade Municipal Trust’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, March 18th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Noble Wealth Management PBC purchased a new stake in shares of MFS Investment Grade Municipal Trust during the 4th quarter valued at about $53,000. LPL Financial LLC lifted its holdings in shares of MFS Investment Grade Municipal Trust by 52.0% during the 4th quarter. LPL Financial LLC now owns 18,137 shares of the company’s stock valued at $145,000 after buying an additional 6,201 shares during the period. Raymond James Financial Inc. bought a new position in MFS Investment Grade Municipal Trust in the fourth quarter valued at about $230,000. Bank of New York Mellon Corp grew its stake in shares of MFS Investment Grade Municipal Trust by 41.0% during the 4th quarter. Bank of New York Mellon Corp now owns 69,402 shares of the company’s stock valued at $555,000 after purchasing an additional 20,186 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. grew its position in MFS Investment Grade Municipal Trust by 36.5% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 97,088 shares of the company’s stock valued at $776,000 after buying an additional 25,965 shares during the period.

About MFS Investment Grade Municipal Trust

MFS Investment Grade Municipal is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in fixed income markets of the United States. It primarily invests in tax-exempt bonds and tax-exempt notes. The fund benchmarks the performance of its portfolio against Barclays Municipal Bond Index.