Mfs Hi Yld (NYSE:CMU) Trading Down 0.8% - Time to Sell?

Key Points

• Shares of MFS High Income Municipal Trust (NYSE:CMU) fell 0.8% to $3.62 on Monday as volume jumped ~121% to about 618,829 shares, with the price trading near its 50‑day ($3.61) and 200‑day ($3.55) moving averages.
• The fund declared a monthly dividend of $0.0165 payable May 29 (ex‑dividend and record date May 19), which implies an approximate 5.5% annualized yield.
• Institutional investors own roughly 32.39% of the stock, and several firms—including Almitas Capital, Bulldog Investors and Bank of America—recently increased their stakes.

Shares of Mfs Hi Yld (NYSE:CMU - Get Free Report) were down 0.8% on Monday . The company traded as low as $3.60 and last traded at $3.62. Approximately 618,829 shares changed hands during mid-day trading, an increase of 121% from the average daily volume of 280,011 shares. The stock had previously closed at $3.65.

Mfs Hi Yld Stock Performance

The company has a 50-day simple moving average of $3.61 and a two-hundred day simple moving average of $3.55.

Mfs Hi Yld Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be paid a $0.0165 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a c) annualized dividend and a dividend yield of 5.5%.

Institutional Trading of Mfs Hi Yld

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMU. Almitas Capital LLC grew its position in shares of Mfs Hi Yld by 131.3% in the 3rd quarter. Almitas Capital LLC now owns 1,507,168 shares of the company's stock valued at $5,230,000 after acquiring an additional 855,533 shares during the period. Bulldog Investors LLP raised its holdings in shares of Mfs Hi Yld by 20.0% in the 4th quarter. Bulldog Investors LLP now owns 3,593,657 shares of the company's stock valued at $12,614,000 after purchasing an additional 598,697 shares during the period. Evolve Private Wealth LLC acquired a new stake in Mfs Hi Yld in the 4th quarter valued at about $325,000. City of London Investment Management Co. Ltd. lifted its stake in Mfs Hi Yld by 11.9% in the 3rd quarter. City of London Investment Management Co. Ltd. now owns 518,249 shares of the company's stock valued at $1,798,000 after purchasing an additional 55,000 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Mfs Hi Yld by 55.5% during the third quarter. Bank of America Corp DE now owns 147,588 shares of the company's stock worth $512,000 after purchasing an additional 52,695 shares during the period. 32.39% of the stock is owned by institutional investors.

About Mfs Hi Yld

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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