MFS HI YLD (NYSE:CMU) Sees Large Increase in Short Interest

Key Points

• MFS HI YLD (NYSE:CMU) experienced a dramatic 411.1% increase in short interest in September, with total short interest reaching 9,200 shares.
• Institutional investors hold 32.39% of the stock, with significant stakes raised by firms such as Bank of America and Thomas J. Herzfeld Advisors.
• The company announced a monthly dividend of $0.0165 per share payable on October 31, representing an annual yield of 5.7% for investors.

MFS HI YLD (NYSE:CMU - ) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 9,200 shares, an increase of 411.1% from the September 15th total of 1,800 shares. Based on an average daily volume of 77,400 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 77,400 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On MFS HI YLD

Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in MFS HI YLD by 46.2% during the 2nd quarter. Bank of America Corp DE now owns 94,893 shares of the company's stock valued at $316,000 after purchasing an additional 30,000 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. raised its stake in MFS HI YLD by 55.8% during the 2nd quarter. Thomas J. Herzfeld Advisors Inc. now owns 550,525 shares of the company's stock valued at $1,833,000 after purchasing an additional 197,220 shares during the last quarter. Cetera Investment Advisers raised its stake in MFS HI YLD by 26.8% during the 2nd quarter. Cetera Investment Advisers now owns 25,746 shares of the company's stock valued at $86,000 after purchasing an additional 5,445 shares during the last quarter. Almitas Capital LLC raised its stake in MFS HI YLD by 21.1% during the 1st quarter. Almitas Capital LLC now owns 416,545 shares of the company's stock valued at $1,454,000 after purchasing an additional 72,440 shares during the last quarter. Finally, Sit Investment Associates Inc. raised its stake in MFS HI YLD by 8.8% during the 1st quarter. Sit Investment Associates Inc. now owns 2,179,247 shares of the company's stock valued at $7,606,000 after purchasing an additional 176,608 shares during the last quarter. 32.39% of the stock is currently owned by institutional investors and hedge funds.

MFS HI YLD Price Performance

NYSE:CMU traded up $0.01 during trading hours on Friday, hitting $3.49. 30,314 shares of the company traded hands, compared to its average volume of 65,664. MFS HI YLD has a twelve month low of $3.18 and a twelve month high of $3.68. The firm has a 50-day moving average of $3.39 and a 200 day moving average of $3.35.

MFS HI YLD Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 14th will be paid a dividend of $0.0165 per share. This represents a c) annualized dividend and a yield of 5.7%. The ex-dividend date is Tuesday, October 14th.

About MFS HI YLD

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.