MFS High Income Municipal Trust (NYSE:CXE) Shares Down 0.3% - Time to Sell?

Key Points

• MFS High Income Municipal Trust (NYSE:CXE) shares fell 0.3% to $3.70, with a notable 32% decline in trading volume compared to its average.
• The trust has declared a monthly dividend of $0.018, with a dividend yield of 5.8%, payable to stockholders of record on September 16th.
• A significant portion of the stock, 34.37%, is held by institutional investors, with Almitas Capital LLC increasing its stake by 13.6% recently.

MFS High Income Municipal Trust (NYSE:CXE - )'s share price fell 0.3% during mid-day trading on Monday . The stock traded as low as $3.69 and last traded at $3.70. 55,998 shares traded hands during trading, a decline of 32% from the average session volume of 82,675 shares. The stock had previously closed at $3.71.

MFS High Income Municipal Trust Trading Down 0.3%

The company's fifty day simple moving average is $3.59 and its 200-day simple moving average is $3.57.

MFS High Income Municipal Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $0.018 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Tuesday, September 16th.

Institutional Trading of MFS High Income Municipal Trust

A number of institutional investors have recently modified their holdings of CXE. Almitas Capital LLC boosted its stake in MFS High Income Municipal Trust by 13.6% in the 1st quarter. Almitas Capital LLC now owns 1,047,002 shares of the company's stock worth $3,863,000 after purchasing an additional 125,165 shares in the last quarter. Whitebox Advisors LLC boosted its stake in MFS High Income Municipal Trust by 7.4% in the 2nd quarter. Whitebox Advisors LLC now owns 483,300 shares of the company's stock worth $1,730,000 after purchasing an additional 33,258 shares in the last quarter. Quantum Financial Planning Services Inc. acquired a new stake in MFS High Income Municipal Trust in the 1st quarter worth approximately $114,000. Citadel Advisors LLC acquired a new stake in MFS High Income Municipal Trust in the 4th quarter worth approximately $110,000. Finally, Catalina Capital Group LLC acquired a new stake in MFS High Income Municipal Trust in the 1st quarter worth approximately $109,000. 34.37% of the stock is currently owned by institutional investors.

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.

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