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

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

MFS Investment Grade Municipal Trust Stock Down 0.2%

CXH stock traded down $0.02 during mid-day trading on Thursday, reaching $7.62. 83,792 shares of the company traded hands, compared to its average volume of 46,236. MFS Investment Grade Municipal Trust has a 52-week low of $7.34 and a 52-week high of $8.42. The company has a fifty day moving average price of $8.02 and a 200-day moving average price of $8.04.

MFS Investment Grade Municipal Trust Announces Dividend

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

Institutional Trading of MFS Investment Grade Municipal Trust

Large investors have recently modified their holdings of the business. Center for Financial Planning Inc. purchased a new position in shares of MFS Investment Grade Municipal Trust in the 3rd quarter worth about $36,000. Western Wealth Management LLC purchased a new position in shares of MFS Investment Grade Municipal Trust in the first quarter worth about $54,000. Closed End Fund Advisors Inc. purchased a new stake in shares of MFS Investment Grade Municipal Trust during the fourth quarter worth about $123,000. Evolve Private Wealth LLC purchased a new stake in shares of MFS Investment Grade Municipal Trust during the fourth quarter worth about $123,000. Finally, Susquehanna International Group LLP purchased a new position in MFS Investment Grade Municipal Trust during the 3rd quarter valued at $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.