Bulldog Investors LLP Acquires 261,451 Shares of MFS Investment Grade Municipal Trust (NYSE:CXH)

Bulldog Investors LLP lifted its holdings in shares of MFS Investment Grade Municipal Trust (NYSE:CXH - Free Report) by 58.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 710,459 shares of the company's stock after purchasing an additional 261,451 shares during the quarter. MFS Investment Grade Municipal Trust accounts for approximately 1.5% of Bulldog Investors LLP's portfolio, making the stock its 22nd largest position. Bulldog Investors LLP owned about 8.66% of MFS Investment Grade Municipal Trust worth $5,679,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Sit Investment Associates Inc. lifted its stake in MFS Investment Grade Municipal Trust by 50.4% during the fourth quarter. Sit Investment Associates Inc. now owns 560,546 shares of the company's stock worth $4,479,000 after purchasing an additional 187,786 shares during the last quarter. Icon Advisers Inc. Co. lifted its position in 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 buying an additional 7,777 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in MFS Investment Grade Municipal Trust by 45.3% in the fourth 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. Thomas J. Herzfeld Advisors Inc. grew its position in MFS Investment Grade Municipal Trust by 36.5% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 97,088 shares of the company's stock valued at $776,000 after acquiring an additional 25,965 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in MFS Investment Grade Municipal Trust by 41.0% during the fourth quarter. Bank of New York Mellon Corp now owns 69,402 shares of the company's stock valued at $555,000 after acquiring an additional 20,186 shares during the last quarter.

MFS Investment Grade Municipal Trust Stock Performance

Shares of MFS Investment Grade Municipal Trust stock remained flat at $7.71 during trading on Friday. 17,032 shares of the stock were exchanged, compared to its average volume of 17,900. MFS Investment Grade Municipal Trust has a 12 month low of $7.36 and a 12 month high of $8.36. The firm has a 50-day simple moving average of $7.80 and a 200-day simple moving average of $7.98.

MFS Investment Grade Municipal Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.0295 per share. This represents a $0.35 annualized dividend and a yield of 4.59%. This is a positive change from MFS Investment Grade Municipal Trust's previous monthly dividend of $0.03. The ex-dividend date is Tuesday, May 13th.

MFS Investment Grade Municipal Trust 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.