MFS High Yield Municipal Trust (NYSE:CMU) Sees Large Drop in Short Interest

MFS High Yield Municipal Trust (NYSE:CMU - Get Free Report) was the target of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 53,300 shares, a decline of 78.3% from the March 31st total of 245,400 shares. Based on an average trading volume of 62,000 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.2% of the shares of the company are short sold.

Hedge Funds Weigh In On MFS High Yield Municipal Trust

A number of large investors have recently made changes to their positions in CMU. Sit Investment Associates Inc. grew its holdings in shares of MFS High Yield Municipal Trust by 106.8% in the 4th quarter. Sit Investment Associates Inc. now owns 2,002,639 shares of the company's stock worth $7,049,000 after acquiring an additional 1,034,353 shares during the period. Bulldog Investors LLP boosted its position in MFS High Yield Municipal Trust by 73.0% during the fourth quarter. Bulldog Investors LLP now owns 2,345,443 shares of the company's stock worth $8,280,000 after purchasing an additional 989,618 shares in the last quarter. Rivernorth Capital Management LLC grew its holdings in MFS High Yield Municipal Trust by 19.9% in the third quarter. Rivernorth Capital Management LLC now owns 1,320,718 shares of the company's stock valued at $4,840,000 after purchasing an additional 219,483 shares during the last quarter. Almitas Capital LLC raised its stake in shares of MFS High Yield Municipal Trust by 143.6% during the 4th quarter. Almitas Capital LLC now owns 344,105 shares of the company's stock worth $1,211,000 after buying an additional 202,845 shares during the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. boosted its position in shares of MFS High Yield Municipal Trust by 76.3% in the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 284,360 shares of the company's stock worth $1,001,000 after buying an additional 123,039 shares in the last quarter. Hedge funds and other institutional investors own 32.39% of the company's stock.

MFS High Yield Municipal Trust Price Performance

NYSE:CMU traded up $0.01 during mid-day trading on Wednesday, reaching $3.36. The stock had a trading volume of 39,399 shares, compared to its average volume of 54,332. MFS High Yield Municipal Trust has a twelve month low of $3.18 and a twelve month high of $3.70. The business has a 50 day simple moving average of $3.46 and a 200 day simple moving average of $3.52.

MFS High Yield Municipal Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a dividend of $0.0145 per share. This represents a $0.17 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Tuesday, April 15th.

MFS High Yield Municipal Trust 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.