MFS Investment Grade Municipal Trust (NYSE:CXH) Sees Significant Increase in Short Interest

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a significant growth in short interest in May. As of May 15th, there was short interest totaling 250,757 shares, a growth of 388.0% from the April 30th total of 51,386 shares. Based on an average trading volume of 91,158 shares, the days-to-cover ratio is currently 2.8 days. Currently, 3.1% of the company’s stock are sold short.

MFS Investment Grade Municipal Trust Stock Up 0.2%

NYSE:CXH traded up $0.01 during trading hours on Thursday, hitting $7.54. The stock had a trading volume of 32,967 shares, compared to its average volume of 43,301. MFS Investment Grade Municipal Trust has a 1-year low of $7.34 and a 1-year high of $8.42. The business has a 50 day simple moving average of $8.12 and a two-hundred day simple moving average of $8.07.

MFS Investment Grade Municipal Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.034 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%.

Institutional Trading of MFS Investment Grade Municipal Trust

A number of hedge funds have recently made changes to their positions in the stock. Bulldog Investors LLP grew its position in shares of MFS Investment Grade Municipal Trust by 22.5% during the fourth quarter. Bulldog Investors LLP now owns 1,201,345 shares of the company’s stock worth $9,551,000 after buying an additional 220,851 shares in the last quarter. Rivernorth Capital Management LLC grew its position in shares of MFS Investment Grade Municipal Trust by 14.0% during the first quarter. Rivernorth Capital Management LLC now owns 576,479 shares of the company’s stock worth $4,606,000 after buying an additional 70,996 shares in the last quarter. Almitas Capital LLC grew its position in shares of MFS Investment Grade Municipal Trust by 8.8% during the third quarter. Almitas Capital LLC now owns 487,688 shares of the company’s stock worth $3,833,000 after buying an additional 39,519 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of MFS Investment Grade Municipal Trust during the fourth quarter worth approximately $2,166,000. Finally, Thomas J. Herzfeld Advisors Inc. grew its position in shares of MFS Investment Grade Municipal Trust by 0.9% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 242,426 shares of the company’s stock worth $1,927,000 after buying an additional 2,055 shares in the last quarter.

About MFS Investment Grade Municipal Trust

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.