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

MFS High Yield Municipal Trust (NYSE:CMU - Get Free Report) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 10,300 shares, a growth of 98.1% from the September 30th total of 5,200 shares. Based on an average daily volume of 50,600 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of MFS High Yield Municipal Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in CMU. Sanctuary Advisors LLC acquired a new stake in shares of MFS High Yield Municipal Trust during the second quarter worth about $42,000. Simplicity Wealth LLC acquired a new position in MFS High Yield Municipal Trust in the 2nd quarter valued at about $46,000. Ackerman Capital Advisors LLC acquired a new position in MFS High Yield Municipal Trust in the 3rd quarter valued at about $70,000. Blue Bell Private Wealth Management LLC increased its position in MFS High Yield Municipal Trust by 137.5% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 39,301 shares of the company's stock valued at $135,000 after acquiring an additional 22,754 shares during the period. Finally, International Assets Investment Management LLC increased its position in MFS High Yield Municipal Trust by 270.9% in the 3rd quarter. International Assets Investment Management LLC now owns 46,398 shares of the company's stock valued at $170,000 after acquiring an additional 33,890 shares during the period. Institutional investors and hedge funds own 32.39% of the company's stock.

MFS High Yield Municipal Trust Stock Performance

Shares of CMU remained flat at $3.56 during midday trading on Monday. The stock had a trading volume of 62,112 shares, compared to its average volume of 54,878. The firm has a fifty day simple moving average of $3.61 and a 200-day simple moving average of $3.47. MFS High Yield Municipal Trust has a twelve month low of $2.78 and a twelve month high of $3.70.

MFS High Yield Municipal Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.0145 per share. This represents a $0.17 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Tuesday, October 15th.

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.