MFS Investment Grade Municipal Trust (NYSE:CXH) Short Interest Update

MFS Investment Grade Municipal Trust (NYSE:CXH) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 22,200 shares, an increase of 24.0% from the August 31st total of 17,900 shares. Based on an average trading volume of 15,800 shares, the short-interest ratio is presently 1.4 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Blue Bell Private Wealth Management LLC raised its holdings in MFS Investment Grade Municipal Trust by 233.0% during the second quarter. Blue Bell Private Wealth Management LLC now owns 4,859 shares of the company’s stock worth $38,000 after purchasing an additional 3,400 shares during the last quarter. Melfa Wealth Management Inc. raised its stake in shares of MFS Investment Grade Municipal Trust by 17.4% during the 2nd quarter. Melfa Wealth Management Inc. now owns 78,360 shares of the company’s stock worth $619,000 after buying an additional 11,630 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of MFS Investment Grade Municipal Trust during the 2nd quarter worth $236,000. Rothschild Investment LLC acquired a new stake in shares of MFS Investment Grade Municipal Trust in the second quarter valued at approximately $377,000. Finally, Whitebox Advisors LLC acquired a new stake in MFS Investment Grade Municipal Trust during the 2nd quarter valued at $384,000.

MFS Investment Grade Municipal Trust Stock Up 0.2 %

MFS Investment Grade Municipal Trust stock opened at $8.19 on Monday. MFS Investment Grade Municipal Trust has a twelve month low of $6.41 and a twelve month high of $8.28. The stock has a 50 day moving average of $8.10 and a two-hundred day moving average of $7.79.

MFS Investment Grade Municipal Trust Increases Dividend

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

MFS Investment Grade Municipal Trust Company Profile

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.