MFS Investment Grade Municipal Trust (NYSE:CXH) Sees Large Growth in Short Interest

MFS Investment Grade Municipal Trust (NYSE:CXH) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 22,500 shares, an increase of 155.7% from the October 15th total of 8,800 shares. Based on an average daily volume of 19,100 shares, the days-to-cover ratio is presently 1.2 days.

MFS Investment Grade Municipal Trust Price Performance

NYSE CXH opened at $8.08 on Friday. The business’s 50 day moving average price is $8.16 and its 200-day moving average price is $7.94. MFS Investment Grade Municipal Trust has a fifty-two week low of $7.00 and a fifty-two week high of $8.31.

MFS Investment Grade Municipal Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.0265 per share. This represents a $0.32 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Tuesday, November 12th.

Institutional Investors Weigh In On MFS Investment Grade Municipal Trust

Hedge funds have recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC lifted its stake in shares of MFS Investment Grade Municipal Trust by 233.0% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 4,859 shares of the company’s stock worth $38,000 after purchasing an additional 3,400 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in MFS Investment Grade Municipal Trust during the second quarter worth approximately $236,000. Capital Investment Advisors LLC lifted its position in shares of MFS Investment Grade Municipal Trust by 4.2% in the third quarter. Capital Investment Advisors LLC now owns 36,362 shares of the company’s stock valued at $299,000 after acquiring an additional 1,462 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of MFS Investment Grade Municipal Trust in the second quarter valued at approximately $377,000. Finally, Whitebox Advisors LLC acquired a new stake in shares of MFS Investment Grade Municipal Trust in the second quarter valued at approximately $384,000.

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.