Short Interest in MFS Investment Grade Municipal Trust (NYSE:CXH) Drops By 19.2%
by Doug Wharley · The Cerbat GemMFS Investment Grade Municipal Trust (NYSE:CXH – Get Free Report) saw a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 31,018 shares, a decrease of 19.2% from the March 31st total of 38,382 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average trading volume of 57,817 shares, the days-to-cover ratio is presently 0.5 days.
MFS Investment Grade Municipal Trust Trading Up 0.1%
CXH stock traded up $0.01 during trading on Friday, hitting $8.36. 368,230 shares of the company traded hands, compared to its average volume of 82,659. MFS Investment Grade Municipal Trust has a 1 year low of $7.34 and a 1 year high of $8.42. The company has a 50-day moving average of $8.21 and a 200-day moving average of $8.07.
MFS Investment Grade Municipal Trust Announces Dividend
The firm also recently disclosed a monthly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, April 14th were issued a $0.034 dividend. The ex-dividend date was Tuesday, April 14th. This represents a c) annualized dividend and a yield of 4.9%.
Institutional Investors Weigh In On MFS Investment Grade Municipal Trust
Several institutional investors and hedge funds have recently bought and sold shares of CXH. Center for Financial Planning Inc. purchased a new stake in MFS Investment Grade Municipal Trust in the 3rd quarter worth approximately $36,000. Closed End Fund Advisors Inc. purchased a new stake in MFS Investment Grade Municipal Trust in the 4th quarter worth approximately $123,000. Evolve Private Wealth LLC purchased a new stake in MFS Investment Grade Municipal Trust in the 4th quarter worth approximately $123,000. Susquehanna International Group LLP purchased a new stake in MFS Investment Grade Municipal Trust in the 3rd quarter worth approximately $124,000. Finally, Bank of America Corp DE lifted its holdings in MFS Investment Grade Municipal Trust by 11.9% in the 2nd quarter. Bank of America Corp DE now owns 17,500 shares of the company’s stock worth $134,000 after buying an additional 1,860 shares during the period.
MFS Investment Grade Municipal Trust Company Profile
MFS Investment Grade Municipal Trust (NYSE: CXH) is a non-diversified, closed-end management investment company that seeks to provide shareholders with current income exempt from federal income taxes. Trading on the New York Stock Exchange since its inception in 1982, the fund primarily acquires investment-grade municipal securities, including general obligation and revenue bonds issued by states, municipalities and public authorities across the United States.
The trust’s portfolio is constructed to balance credit quality and yield, focusing on bonds rated BBB or higher by nationally recognized rating agencies.