Short Interest in MFS Investment Grade Municipal Trust (NYSE:CXH) Decreases By 56.3%

MFS Investment Grade Municipal Trust (NYSE:CXH - Get Free Report) saw a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 14,300 shares, a decrease of 56.3% from the February 13th total of 32,700 shares. Approximately 0.2% of the company's stock are short sold. Based on an average daily volume of 17,300 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Investors Weigh In On MFS Investment Grade Municipal Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rivernorth Capital Management LLC grew its stake in MFS Investment Grade Municipal Trust by 17.7% in the 3rd quarter. Rivernorth Capital Management LLC now owns 402,574 shares of the company's stock valued at $3,309,000 after purchasing an additional 60,569 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in MFS Investment Grade Municipal Trust by 45.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 158,542 shares of the company's stock valued at $1,267,000 after purchasing an additional 49,420 shares during the period. Noble Wealth Management PBC bought a new position in MFS Investment Grade Municipal Trust in the 4th quarter valued at $53,000. Raymond James Financial Inc. bought a new position in MFS Investment Grade Municipal Trust in the 4th quarter valued at $230,000. Finally, Bulldog Investors LLP grew its stake in MFS Investment Grade Municipal Trust by 58.2% in the 4th quarter. Bulldog Investors LLP now owns 710,459 shares of the company's stock valued at $5,679,000 after purchasing an additional 261,451 shares during the period.

MFS Investment Grade Municipal Trust Price Performance

Shares of NYSE:CXH traded down $0.01 during trading on Friday, reaching $8.03. 5,902 shares of the stock were exchanged, compared to its average volume of 17,944. MFS Investment Grade Municipal Trust has a 1-year low of $7.30 and a 1-year high of $8.36. The stock has a fifty day moving average of $8.04 and a two-hundred day moving average of $8.10.

Remove Ads

MFS Investment Grade Municipal Trust Increases Dividend

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

MFS Investment Grade Municipal Trust Company Profile

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.