Mfs Hi Yld (NYSE:CMU) Stock Price Down 0.1% - Time to Sell?

Key Points

• Mfs Hi Yld (NYSE:CMU) slipped 0.1% to $3.5650 on Monday with 49,884 shares traded, about 26% below average, and is trading near its 50-day ($3.58) and 200-day ($3.53) moving averages.
• The trust declared a monthly dividend of $0.0165 per share (ex-dividend date Apr 14, payable Apr 30), implying an annualized yield of about 5.6%.
• Hedge funds and institutions have been active—Wells Fargo raised its stake by 46.8% and overall institutional ownership is roughly 32.39%—while the fund focuses on higher-yield, non-investment-grade municipal bonds to generate tax-exempt income.

Mfs Hi Yld (NYSE:CMU - Get Free Report)'s stock price traded down 0.1% during trading on Monday . The company traded as low as $3.54 and last traded at $3.5650. 49,884 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 67,586 shares. The stock had previously closed at $3.57.

Mfs Hi Yld Stock Down 0.1%

The stock has a 50 day moving average of $3.58 and a 200 day moving average of $3.53.

Mfs Hi Yld Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, April 14th will be paid a $0.0165 dividend. This represents a c) dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Tuesday, April 14th.

Hedge Funds Weigh In On Mfs Hi Yld

Hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN grew its stake in Mfs Hi Yld by 46.8% in the fourth quarter. Wells Fargo & Company MN now owns 9,609 shares of the company's stock worth $34,000 after purchasing an additional 3,063 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Mfs Hi Yld in the third quarter valued at approximately $35,000. International Assets Investment Management LLC acquired a new position in Mfs Hi Yld in the third quarter valued at approximately $44,000. Closed End Fund Advisors Inc. acquired a new position in Mfs Hi Yld in the fourth quarter valued at approximately $46,000. Finally, Spirepoint Private Client LLC acquired a new position in Mfs Hi Yld in the third quarter valued at approximately $56,000. 32.39% of the stock is currently owned by institutional investors and hedge funds.

Mfs Hi Yld Company Profile

MFS High Income Municipal Trust NYSE: CMU is a closed-end management investment company that seeks to provide total return through a combination of current income exempt from U.S. federal income tax and capital appreciation. The fund primarily invests in high-yield municipal securities, focusing on non-investment-grade and lower-rated municipal bonds across a variety of sectors. By targeting issuers with attractive yield characteristics, the trust aims to deliver enhanced tax-exempt income to its shareholders.

The investment strategy of the fund emphasizes in-depth credit analysis, sector allocation and risk management.

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