MFS Investment Grade Municipal Trust (NYSE:CXH) Short Interest Down 10.1% in August

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 17,900 shares, a decline of 10.1% from the August 15th total of 19,900 shares. Based on an average trading volume of 14,900 shares, the short-interest ratio is presently 1.2 days.

MFS Investment Grade Municipal Trust Stock Down 0.2 %

CXH traded down $0.02 during trading on Thursday, reaching $8.20. The stock had a trading volume of 438 shares, compared to its average volume of 19,613. The business has a 50-day moving average of $8.07 and a 200-day moving average of $7.76. MFS Investment Grade Municipal Trust has a one year low of $6.41 and a one year high of $8.28.

MFS Investment Grade Municipal Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 17th will be given a $0.0265 dividend. This is an increase from MFS Investment Grade Municipal Trust’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, September 17th. This represents a $0.32 dividend on an annualized basis and a yield of 3.88%.

Institutional Trading of MFS Investment Grade Municipal Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bulldog Investors LLP lifted its holdings in shares of MFS Investment Grade Municipal Trust by 28.7% in the 4th quarter. Bulldog Investors LLP now owns 389,857 shares of the company’s stock worth $2,951,000 after acquiring an additional 86,927 shares during the last quarter. Melfa Wealth Management Inc. grew its stake in shares of MFS Investment Grade Municipal Trust by 17.4% during the second quarter. Melfa Wealth Management Inc. now owns 78,360 shares of the company’s stock valued at $619,000 after buying an additional 11,630 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of MFS Investment Grade Municipal Trust in the second quarter worth about $236,000. Rothschild Investment LLC purchased a new stake in MFS Investment Grade Municipal Trust during the 2nd quarter valued at about $377,000. Finally, Blue Bell Private Wealth Management LLC grew its position in 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 acquiring an additional 3,400 shares during the last quarter.

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.