MFS HI YLD $CMU Shares Acquired by Sit Investment Associates Inc.

Key Points

• Sit Investment Associates Inc. increased its holdings in MFS HI YLD by 8.8% during the first quarter, owning approximately 2,179,247 shares valued at $7.6 million.
• Other institutional investors, including Bank of New York Mellon Corp and XTX Topco Ltd, have also increased their stakes in MFS HI YLD, demonstrating growing investor interest.
• MFS HI YLD declared a monthly dividend of $0.0165, approaching an annualized yield of 5.9%, with the ex-dividend date on August 19th.

Sit Investment Associates Inc. raised its position in MFS HI YLD (NYSE:CMU - Free Report) by 8.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,179,247 shares of the company's stock after purchasing an additional 176,608 shares during the quarter. Sit Investment Associates Inc. owned about 8.55% of MFS HI YLD worth $7,606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CMU. Bulldog Investors LLP increased its stake in shares of MFS HI YLD by 73.0% in the fourth quarter. Bulldog Investors LLP now owns 2,345,443 shares of the company's stock valued at $8,280,000 after purchasing an additional 989,618 shares during the period. Almitas Capital LLC increased its stake in shares of MFS HI YLD by 143.6% in the fourth quarter. Almitas Capital LLC now owns 344,105 shares of the company's stock valued at $1,211,000 after purchasing an additional 202,845 shares during the period. Bank of New York Mellon Corp increased its stake in shares of MFS HI YLD by 32.2% in the first quarter. Bank of New York Mellon Corp now owns 287,416 shares of the company's stock valued at $1,003,000 after purchasing an additional 70,000 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of MFS HI YLD in the fourth quarter valued at approximately $166,000. Finally, CX Institutional acquired a new stake in shares of MFS HI YLD in the first quarter valued at approximately $49,000. Institutional investors and hedge funds own 32.39% of the company's stock.

MFS HI YLD Price Performance

Shares of NYSE:CMU traded down $0.0150 during trading hours on Wednesday, hitting $3.2750. The stock had a trading volume of 104,921 shares, compared to its average volume of 52,191. The stock's fifty day simple moving average is $3.31 and its 200 day simple moving average is $3.39. MFS HI YLD has a 1-year low of $3.18 and a 1-year high of $3.70.

MFS HI YLD Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 29th. Investors of record on Tuesday, August 19th will be paid a dividend of $0.0165 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Tuesday, August 19th.

MFS HI YLD 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.