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

MFS Investment Grade Municipal Trust (NYSE:CXH) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 14,300 shares, a drop of 56.3% from the February 13th total of 32,700 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 17,300 shares, the short-interest ratio is presently 0.8 days.

MFS Investment Grade Municipal Trust Trading Down 0.2 %

CXH stock opened at $8.03 on Friday. The business’s fifty day simple moving average is $8.04 and its two-hundred day simple moving average is $8.10. MFS Investment Grade Municipal Trust has a twelve month low of $7.30 and a twelve month high of $8.36.

MFS Investment Grade Municipal Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be paid a $0.0275 dividend. This is a positive change from MFS Investment Grade Municipal Trust’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, March 18th. This represents a $0.33 dividend on an annualized basis and a yield of 4.11%.

Hedge Funds Weigh In On MFS Investment Grade Municipal Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in CXH. Rivernorth Capital Management LLC grew its position in shares of MFS Investment Grade Municipal Trust by 17.7% during the 3rd quarter. Rivernorth Capital Management LLC now owns 402,574 shares of the company’s stock worth $3,309,000 after buying an additional 60,569 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of MFS Investment Grade Municipal Trust by 45.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 158,542 shares of the company’s stock worth $1,267,000 after buying an additional 49,420 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of MFS Investment Grade Municipal Trust by 41.0% during the 4th quarter. Bank of New York Mellon Corp now owns 69,402 shares of the company’s stock worth $555,000 after buying an additional 20,186 shares in the last quarter. Noble Wealth Management PBC bought a new position in shares of MFS Investment Grade Municipal Trust during the 4th quarter worth $53,000. Finally, Raymond James Financial Inc. bought a new position in shares of MFS Investment Grade Municipal Trust during the 4th quarter worth $230,000.

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.