MFS High Income Municipal Trust (NYSE:CXE) Short Interest Up 65.2% in July

Key Points

• MFS High Income Municipal Trust (NYSE:CXE) experienced a significant rise in short interest, increasing by 65.2% in July, with total short interest reaching 69,400 shares.
• The trust recently declared a monthly dividend of $0.018 per share, translating to an annualized dividend yield of 6.1%, with payment scheduled for August 29th.
• As of now, 34.37% of MFS High Income Municipal Trust's stock is owned by institutional investors, indicating a growing interest in the fund.

MFS High Income Municipal Trust (NYSE:CXE - Get Free Report) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 69,400 shares, agrowthof65.2% from the June 30th total of 42,000 shares. Based on an average trading volume of 84,700 shares, the short-interest ratio is currently 0.8 days. Based on an average trading volume of 84,700 shares, the short-interest ratio is currently 0.8 days.

Institutional Investors Weigh In On MFS High Income Municipal Trust

A number of hedge funds have recently made changes to their positions in CXE. Almitas Capital LLC raised its holdings in shares of MFS High Income Municipal Trust by 27.9% during the fourth quarter. Almitas Capital LLC now owns 921,837 shares of the company's stock valued at $3,392,000 after buying an additional 200,984 shares during the last quarter. Whitebox Advisors LLC raised its holdings in shares of MFS High Income Municipal Trust by 96.5% during the fourth quarter. Whitebox Advisors LLC now owns 229,223 shares of the company's stock valued at $844,000 after buying an additional 112,598 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of MFS High Income Municipal Trust during the fourth quarter valued at approximately $321,000. Bank of America Corp DE raised its holdings in shares of MFS High Income Municipal Trust by 4.7% during the fourth quarter. Bank of America Corp DE now owns 1,262,545 shares of the company's stock valued at $4,646,000 after buying an additional 56,854 shares during the last quarter. Finally, Quantum Financial Planning Services Inc. bought a new stake in shares of MFS High Income Municipal Trust during the first quarter valued at approximately $114,000. Institutional investors own 34.37% of the company's stock.

MFS High Income Municipal Trust Stock Performance

NYSE CXE traded down $0.02 during trading hours on Friday, reaching $3.59. The company's stock had a trading volume of 21,690 shares, compared to its average volume of 90,882. The business has a 50-day simple moving average of $3.53 and a 200 day simple moving average of $3.61. MFS High Income Municipal Trust has a 52 week low of $3.38 and a 52 week high of $4.03.

MFS High Income Municipal Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th will be issued a dividend of $0.018 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Tuesday, August 19th.

About MFS High Income Municipal Trust

MFS High Income Municipal Trust is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in the fixed income markets. It primarily invests in municipal bonds and local general obligations of various sectors, such as multifamily, hospitals, care retirement, and investor-owned utilities.