Short Interest in MFS Investment Grade Municipal Trust (NYSE:CXH) Grows By 82.5%

MFS Investment Grade Municipal Trust (NYSE:CXH) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 20,624 shares, an increase of 82.5% from the November 30th total of 11,300 shares. Based on an average daily trading volume, of 36,735 shares, the short-interest ratio is currently 0.6 days. Approximately 0.3% of the shares of the stock are short sold. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 36,735 shares, the short-interest ratio is currently 0.6 days.

Institutional Investors Weigh In On MFS Investment Grade Municipal Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bulldog Investors LLP increased its stake in MFS Investment Grade Municipal Trust by 9.4% in the 3rd quarter. Bulldog Investors LLP now owns 980,494 shares of the company’s stock worth $7,707,000 after acquiring an additional 84,603 shares during the last quarter. Almitas Capital LLC boosted its position in shares of MFS Investment Grade Municipal Trust by 8.8% during the 3rd quarter. Almitas Capital LLC now owns 487,688 shares of the company’s stock valued at $3,833,000 after acquiring an additional 39,519 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. grew its holdings in shares of MFS Investment Grade Municipal Trust by 100.5% during the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 241,702 shares of the company’s stock worth $1,847,000 after purchasing an additional 121,161 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of MFS Investment Grade Municipal Trust by 282.6% during the third quarter. Bank of America Corp DE now owns 66,950 shares of the company’s stock worth $526,000 after purchasing an additional 49,450 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of MFS Investment Grade Municipal Trust by 62.3% in the third quarter. Raymond James Financial Inc. now owns 31,813 shares of the company’s stock worth $250,000 after purchasing an additional 12,217 shares during the last quarter.

MFS Investment Grade Municipal Trust Stock Performance

CXH stock opened at $7.95 on Tuesday. The firm has a 50 day moving average of $7.97 and a 200-day moving average of $7.75. MFS Investment Grade Municipal Trust has a 12 month low of $7.34 and a 12 month high of $8.21.

MFS Investment Grade Municipal Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.034 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Tuesday, December 16th.

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.