Short Interest in MFS Investment Grade Municipal Trust (NYSE:CXH) Grows By 5.1%

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 31,200 shares, an increase of 5.1% from the January 15th total of 29,700 shares. Based on an average daily trading volume, of 19,500 shares, the short-interest ratio is presently 1.6 days.

Institutional Investors Weigh In On MFS Investment Grade Municipal Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Noble Wealth Management PBC bought a new stake in MFS Investment Grade Municipal Trust during the fourth quarter worth approximately $53,000. LPL Financial LLC increased its holdings in shares of MFS Investment Grade Municipal Trust by 52.0% in the fourth quarter. LPL Financial LLC now owns 18,137 shares of the company’s stock valued at $145,000 after buying an additional 6,201 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of MFS Investment Grade Municipal Trust in the fourth quarter valued at $230,000. Capital Investment Advisors LLC increased its holdings 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 buying an additional 1,462 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of MFS Investment Grade Municipal Trust by 41.0% in the fourth quarter. Bank of New York Mellon Corp now owns 69,402 shares of the company’s stock valued at $555,000 after buying an additional 20,186 shares in the last quarter.

MFS Investment Grade Municipal Trust Price Performance

NYSE:CXH traded down $0.05 during midday trading on Tuesday, hitting $8.03. 16,309 shares of the stock were exchanged, compared to its average volume of 16,268. MFS Investment Grade Municipal Trust has a one year low of $7.30 and a one year high of $8.36. The business has a 50-day moving average price of $8.02 and a two-hundred day moving average price of $8.10.

MFS Investment Grade Municipal Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.0265 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.32 annualized dividend and a yield of 3.96%.

About MFS Investment Grade Municipal Trust

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.