Mfs Hi Yld (NYSE:CMU) Sees Significant Increase in Short Interest

Key Points

• Mfs Hi Yld (NYSE:CMU) experienced a significant increase in short interest, rising by 115.2% from mid-August to the end of the month, with total short interest reaching 22,600 shares.
• Several institutional investors, including Bank of America and Thomas J. Herzfeld Advisors Inc., have increased their holdings in Mfs Hi Yld, indicating growing institutional interest in the fund.
• The company has announced a monthly dividend of $0.0165 per share, payable on September 30th, presenting a 5.7% annualized dividend yield for investors.

Mfs Hi Yld (NYSE:CMU - Get Free Report) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 22,600 shares, an increase of 115.2% from the August 15th total of 10,500 shares. Approximately 0.1% of the company's shares are short sold. Based on an average daily volume of 90,800 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 90,800 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company's shares are short sold.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. CX Institutional purchased a new position in shares of Mfs Hi Yld during the 1st quarter worth about $49,000. Sit Investment Associates Inc. lifted its holdings in shares of 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 worth $7,606,000 after acquiring an additional 176,608 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Mfs Hi Yld by 32.2% during the 1st quarter. Bank of New York Mellon Corp now owns 287,416 shares of the company's stock worth $1,003,000 after acquiring an additional 70,000 shares during the period. Almitas Capital LLC lifted its holdings in shares of Mfs Hi Yld by 21.1% during the 1st quarter. Almitas Capital LLC now owns 416,545 shares of the company's stock worth $1,454,000 after acquiring an additional 72,440 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. lifted its holdings in shares of Mfs Hi Yld by 24.2% during the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 353,305 shares of the company's stock worth $1,233,000 after acquiring an additional 68,945 shares during the period. 32.39% of the stock is currently owned by hedge funds and other institutional investors.

Mfs Hi Yld Price Performance

NYSE:CMU traded up $0.01 on Thursday, reaching $3.46. The stock had a trading volume of 49,286 shares, compared to its average volume of 71,202. The firm's fifty day moving average is $3.31 and its two-hundred day moving average is $3.36. Mfs Hi Yld has a 12-month low of $3.18 and a 12-month high of $3.70.

Mfs Hi Yld Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $0.0165 dividend. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Tuesday, September 16th.

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.