MFS High Yield Municipal Trust (NYSE:CMU) Sees Significant Decrease in Short Interest

MFS High Yield Municipal Trust (NYSE:CMU - Get Free Report) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 232,400 shares, a drop of 18.7% from the February 13th total of 285,800 shares. Approximately 0.9% of the company's stock are sold short. Based on an average daily volume of 58,100 shares, the short-interest ratio is currently 4.0 days.

MFS High Yield Municipal Trust Price Performance

Shares of NYSE CMU traded up $0.01 on Friday, reaching $3.54. 4,389 shares of the company's stock traded hands, compared to its average volume of 51,946. MFS High Yield Municipal Trust has a 12 month low of $3.20 and a 12 month high of $3.70. The business's 50 day simple moving average is $3.55 and its two-hundred day simple moving average is $3.58.

MFS High Yield Municipal Trust Dividend Announcement

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 dividend of $0.0145 per share. This represents a $0.17 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date is Tuesday, March 18th.

Hedge Funds Weigh In On MFS High Yield Municipal Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd bought a new position in shares of MFS High Yield Municipal Trust during the third quarter valued at approximately $37,000. Atria Wealth Solutions Inc. grew its holdings in shares of MFS High Yield Municipal Trust by 82.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 36,835 shares of the company's stock valued at $130,000 after buying an additional 16,633 shares during the last quarter. Noble Wealth Management PBC purchased a new stake in shares of MFS High Yield Municipal Trust during the fourth quarter valued at approximately $71,000. Bank of New York Mellon Corp grew its holdings in shares of MFS High Yield Municipal Trust by 13.8% during the fourth quarter. Bank of New York Mellon Corp now owns 217,416 shares of the company's stock valued at $765,000 after buying an additional 26,395 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of MFS High Yield Municipal Trust during the fourth quarter valued at approximately $166,000. Institutional investors own 32.39% of the company's stock.

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MFS High Yield Municipal Trust Company Profile

MFS High Yield Municipal Trust 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.