MFS Investment Grade Municipal Trust (NYSE:CXH) Sees Large Decline in Short Interest

MFS Investment Grade Municipal Trust (NYSE:CXH) was the target of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 32,576 shares, a decline of 24.5% from the February 26th total of 43,155 shares. Based on an average daily volume of 37,113 shares, the short-interest ratio is presently 0.9 days. Approximately 0.4% of the shares of the company are short sold.

MFS Investment Grade Municipal Trust Price Performance

NYSE:CXH traded down $0.04 during mid-day trading on Tuesday, hitting $8.02. 101,190 shares of the company’s stock traded hands, compared to its average volume of 18,590. The firm has a 50 day moving average of $8.13 and a two-hundred day moving average of $8.01. MFS Investment Grade Municipal Trust has a 12 month low of $7.34 and a 12 month high of $8.39.

MFS Investment Grade Municipal Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $0.034 dividend. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Tuesday, March 17th.

Institutional Investors Weigh In On MFS Investment Grade Municipal Trust

Several hedge funds and other institutional investors have recently modified their holdings of CXH. Thomas J. Herzfeld Advisors Inc. raised its holdings in shares of MFS Investment Grade Municipal Trust by 100.5% in the 2nd quarter. Thomas J. Herzfeld Advisors Inc. now owns 241,702 shares of the company’s stock worth $1,847,000 after buying an additional 121,161 shares in the last quarter. Bulldog Investors LLP increased its holdings 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 in the last quarter. Closed End Fund Advisors Inc. bought a new position in MFS Investment Grade Municipal Trust in the 4th quarter valued at $123,000. Evolve Private Wealth LLC bought a new position in shares of MFS Investment Grade Municipal Trust in the fourth quarter valued at about $123,000. Finally, Susquehanna International Group LLP acquired a new position in shares of MFS Investment Grade Municipal Trust during the third quarter worth approximately $124,000.

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.