Short Interest in MFS High Yield Municipal Trust (NYSE:CMU) Drops By 78.3%

MFS High Yield Municipal Trust (NYSE:CMU) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totalling 53,300 shares, a drop of 78.3% from the March 31st total of 245,400 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 62,000 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On MFS High Yield Municipal Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Rivernorth Capital Management LLC increased its stake in MFS High Yield Municipal Trust by 19.9% during the 3rd quarter. Rivernorth Capital Management LLC now owns 1,320,718 shares of the company’s stock worth $4,840,000 after buying an additional 219,483 shares during the period. Atria Wealth Solutions Inc. raised its holdings in MFS High Yield Municipal Trust by 82.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 36,835 shares of the company’s stock worth $130,000 after purchasing an additional 16,633 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. raised its position in shares of MFS High Yield Municipal Trust by 76.3% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 284,360 shares of the company’s stock worth $1,001,000 after purchasing an additional 123,039 shares during the period. Sit Investment Associates Inc. lifted its stake in MFS High Yield Municipal Trust by 106.8% in the 4th quarter. Sit Investment Associates Inc. now owns 2,002,639 shares of the company’s stock worth $7,049,000 after acquiring an additional 1,034,353 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of MFS High Yield Municipal Trust during the 4th quarter valued at $166,000. Hedge funds and other institutional investors own 32.39% of the company’s stock.

MFS High Yield Municipal Trust Trading Up 0.3 %

CMU opened at $3.33 on Tuesday. The business’s 50-day simple moving average is $3.46 and its 200-day simple moving average is $3.52. MFS High Yield Municipal Trust has a one year low of $3.18 and a one year high of $3.70.

MFS High Yield Municipal Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.0145 per share. The ex-dividend date is Tuesday, April 15th. This represents a $0.17 annualized dividend and a yield of 5.23%.

About MFS High Yield Municipal Trust

MFS High Yield Municipal Trust 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.