Short Interest in MFS Investment Grade Municipal Trust (NYSE:CXH) Declines By 19.2%

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a large decline in short interest in April. As of April 15th, there was short interest totaling 31,018 shares, a decline of 19.2% from the March 31st total of 38,382 shares. Approximately 0.4% of the company’s shares are sold short. 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 Stock Performance

NYSE CXH traded up $0.01 during trading on Friday, hitting $8.36. The stock had a trading volume of 368,230 shares, compared to its average volume of 82,659. The firm has a 50 day moving average price of $8.21 and a 200 day moving average price of $8.07. MFS Investment Grade Municipal Trust has a twelve month low of $7.34 and a twelve month high of $8.42.

MFS Investment Grade Municipal Trust Announces Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, April 14th were given a $0.034 dividend. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Tuesday, April 14th.

Hedge Funds Weigh In On MFS Investment Grade Municipal Trust

Several institutional investors have recently bought and sold shares of CXH. Hennion & Walsh Asset Management Inc. increased its stake in shares of MFS Investment Grade Municipal Trust by 128.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 112,637 shares of the company’s stock worth $895,000 after buying an additional 63,238 shares during the period. Bulldog Investors LLP increased its stake in shares of MFS Investment Grade Municipal Trust by 9.4% during the third quarter. Bulldog Investors LLP now owns 980,494 shares of the company’s stock worth $7,707,000 after buying an additional 84,603 shares during the period. Almitas Capital LLC increased its stake 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 during the period. Center for Financial Planning Inc. purchased a new stake in shares of MFS Investment Grade Municipal Trust during the third quarter worth approximately $36,000. Finally, Evolve Private Wealth LLC purchased a new stake in shares of MFS Investment Grade Municipal Trust during the fourth quarter worth approximately $123,000.

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.