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

MFS Investment Grade Municipal Trust (NYSE:CXH - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 22,400 shares, an increase of 56.6% from the February 28th total of 14,300 shares. Based on an average trading volume of 16,000 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.3% of the shares of the stock are sold short.

Institutional Trading of MFS Investment Grade Municipal Trust

Several institutional investors and hedge funds have recently made changes to their positions in CXH. Bulldog Investors LLP increased its stake in MFS Investment Grade Municipal Trust by 58.2% in the fourth quarter. Bulldog Investors LLP now owns 710,459 shares of the company's stock valued at $5,679,000 after acquiring an additional 261,451 shares during the last quarter. Icon Advisers Inc. Co. boosted its holdings in shares of MFS Investment Grade Municipal Trust by 3.3% in the 4th quarter. Icon Advisers Inc. Co. now owns 244,295 shares of the company's stock worth $1,952,000 after purchasing an additional 7,777 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of MFS Investment Grade Municipal Trust during the 4th quarter valued at about $230,000. Sit Investment Associates Inc. raised its holdings in shares of MFS Investment Grade Municipal Trust by 50.4% during the 4th quarter. Sit Investment Associates Inc. now owns 560,546 shares of the company's stock valued at $4,479,000 after buying an additional 187,786 shares in the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. lifted its position in MFS Investment Grade Municipal Trust by 36.5% in the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 97,088 shares of the company's stock worth $776,000 after buying an additional 25,965 shares during the last quarter.

MFS Investment Grade Municipal Trust Stock Down 0.3 %

Shares of NYSE CXH traded down $0.02 during midday trading on Wednesday, hitting $7.92. 12,155 shares of the company's stock were exchanged, compared to its average volume of 12,910. The business's fifty day moving average price is $8.04 and its two-hundred day moving average price is $8.08. MFS Investment Grade Municipal Trust has a 12-month low of $7.30 and a 12-month high of $8.36.

MFS Investment Grade Municipal Trust Increases Dividend

The business also recently declared a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were paid a $0.0275 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Tuesday, March 18th. This is a boost from MFS Investment Grade Municipal Trust's previous monthly dividend of $0.03.

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.