Bulldog Investors LLP Grows Holdings in Mfs Hi Yld $CMU

Bulldog Investors LLP lifted its stake in Mfs Hi Yld (NYSE:CMU) by 12.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,994,960 shares of the company’s stock after buying an additional 323,923 shares during the quarter. Mfs Hi Yld accounts for approximately 2.4% of Bulldog Investors LLP’s holdings, making the stock its 9th largest position. Bulldog Investors LLP owned approximately 0.12% of Mfs Hi Yld worth $10,393,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cetera Investment Advisers grew its stake in Mfs Hi Yld by 26.8% during the second quarter. Cetera Investment Advisers now owns 25,746 shares of the company’s stock valued at $86,000 after acquiring an additional 5,445 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Mfs Hi Yld in the 3rd quarter worth $44,000. Spirepoint Private Client LLC bought a new position in shares of Mfs Hi Yld during the 3rd quarter valued at about $56,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Mfs Hi Yld by 5.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 377,111 shares of the company’s stock valued at $1,309,000 after purchasing an additional 20,922 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Mfs Hi Yld by 46.2% during the second quarter. Bank of America Corp DE now owns 94,893 shares of the company’s stock valued at $316,000 after purchasing an additional 30,000 shares in the last quarter. Institutional investors own 32.39% of the company’s stock.

Mfs Hi Yld Stock Down 0.3%

Shares of CMU stock opened at $3.61 on Friday. Mfs Hi Yld has a 12-month low of $3.18 and a 12-month high of $3.69. The stock’s 50-day moving average price is $3.57 and its 200-day moving average price is $3.50.

Mfs Hi Yld Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a dividend of $0.0165 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a c) dividend on an annualized basis and a yield of 5.5%.

Mfs Hi Yld Profile

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.