Mfs Hi Yld (NYSE:CMU) Trading 1% Higher – Still a Buy?

Mfs Hi Yld (NYSE:CMU)’s stock price rose 1% on Wednesday . The company traded as high as $3.61 and last traded at $3.6050. Approximately 33,041 shares changed hands during trading, a decline of 52% from the average daily volume of 68,146 shares. The stock had previously closed at $3.57.

Mfs Hi Yld Stock Up 1.0%

The firm’s fifty day simple moving average is $3.54 and its 200-day simple moving average is $3.48.

Mfs Hi Yld Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be issued a $0.0165 dividend. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Tuesday, February 17th.

Institutional Trading of Mfs Hi Yld

Institutional investors have recently added to or reduced their stakes in the business. Almitas Capital LLC raised its stake in shares of Mfs Hi Yld by 131.3% in the third quarter. Almitas Capital LLC now owns 1,507,168 shares of the company’s stock worth $5,230,000 after purchasing an additional 855,533 shares during the last quarter. Bulldog Investors LLP increased its holdings in Mfs Hi Yld by 20.0% in the 4th quarter. Bulldog Investors LLP now owns 3,593,657 shares of the company’s stock worth $12,614,000 after buying an additional 598,697 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. increased its holdings in Mfs Hi Yld by 55.8% in the 2nd quarter. Thomas J. Herzfeld Advisors Inc. now owns 550,525 shares of the company’s stock worth $1,833,000 after buying an additional 197,220 shares in the last quarter. Evolve Private Wealth LLC purchased a new position in Mfs Hi Yld in the 4th quarter worth about $325,000. Finally, City of London Investment Management Co. Ltd. raised its position in Mfs Hi Yld by 11.9% in the 3rd quarter. City of London Investment Management Co. Ltd. now owns 518,249 shares of the company’s stock worth $1,798,000 after buying an additional 55,000 shares during the last quarter. 32.39% of the stock is currently owned by hedge funds and other institutional investors.

About Mfs Hi Yld

MFS High Income Municipal Trust (NYSE:CMU) is a closed-end management investment company that seeks to provide total return through a combination of current income exempt from U.S. federal income tax and capital appreciation. The fund primarily invests in high-yield municipal securities, focusing on non-investment-grade and lower-rated municipal bonds across a variety of sectors. By targeting issuers with attractive yield characteristics, the trust aims to deliver enhanced tax-exempt income to its shareholders.

The investment strategy of the fund emphasizes in-depth credit analysis, sector allocation and risk management.