MFS Investment Grade Municipal Trust (NYSE:CXH) Short Interest Down 10.1% in August

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 17,900 shares, a decrease of 10.1% from the August 15th total of 19,900 shares. Based on an average daily trading volume, of 14,900 shares, the days-to-cover ratio is currently 1.2 days.

MFS Investment Grade Municipal Trust Price Performance

MFS Investment Grade Municipal Trust stock remained flat at $8.21 during mid-day trading on Wednesday. 9,901 shares of the company’s stock were exchanged, compared to its average volume of 19,720. MFS Investment Grade Municipal Trust has a 12 month low of $6.41 and a 12 month high of $8.28. The stock’s fifty day simple moving average is $8.07 and its two-hundred day simple moving average is $7.76.

MFS Investment Grade Municipal Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 17th will be issued a $0.0265 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.87%. This is a positive change from MFS Investment Grade Municipal Trust’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, September 17th.

Institutional Investors Weigh In On MFS Investment Grade Municipal Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Graham Capital Wealth Management LLC acquired a new stake in shares of MFS Investment Grade Municipal Trust in the 2nd quarter valued at $521,000. Whitebox Advisors LLC acquired a new stake in shares of MFS Investment Grade Municipal Trust in the 2nd quarter valued at $384,000. Blue Bell Private Wealth Management LLC raised its holdings in shares of MFS Investment Grade Municipal Trust by 233.0% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 4,859 shares of the company’s stock valued at $38,000 after purchasing an additional 3,400 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of MFS Investment Grade Municipal Trust in the 2nd quarter valued at $377,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of MFS Investment Grade Municipal Trust in the 2nd quarter valued at $236,000.

MFS Investment Grade Municipal Trust Company Profile

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.