MFS Investment Grade Municipal Trust (NYSE:CXH) Short Interest Update

Key Points

• Short interest dropped 24.5% in March to 32,576 shares, leaving a short-interest ratio of 0.9 days and just 0.4% of shares sold short.
• Dividend declared: a monthly payout of $0.034 per share (ex-dividend Mar 17, payable Mar 31), implying an annualized yield of about 5.1%.
• Fund profile — NYSE:CXH is a closed-end municipal bond trust that holds investment-grade municipal securities to provide federally tax-exempt income.

MFS Investment Grade Municipal Trust (NYSE:CXH - Get Free Report) was the recipient of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 32,576 shares, a drop of 24.5% from the February 26th total of 43,155 shares. Based on an average daily volume of 37,113 shares, the short-interest ratio is currently 0.9 days. Currently, 0.4% of the company's shares are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Center for Financial Planning Inc. acquired a new position in shares of MFS Investment Grade Municipal Trust during the 3rd quarter worth $36,000. Closed End Fund Advisors Inc. acquired a new stake in MFS Investment Grade Municipal Trust in the 4th quarter valued at about $123,000. Evolve Private Wealth LLC purchased a new position in MFS Investment Grade Municipal Trust during the 4th quarter valued at about $123,000. Susquehanna International Group LLP acquired a new position in MFS Investment Grade Municipal Trust during the third quarter worth about $124,000. Finally, Bank of America Corp DE lifted its holdings in shares of MFS Investment Grade Municipal Trust by 11.9% in the second quarter. Bank of America Corp DE now owns 17,500 shares of the company's stock valued at $134,000 after purchasing an additional 1,860 shares in the last quarter.

MFS Investment Grade Municipal Trust Stock Performance

NYSE:CXH opened at $8.00 on Friday. MFS Investment Grade Municipal Trust has a 52 week low of $7.34 and a 52 week high of $8.39. The stock's fifty day moving average is $8.13 and its two-hundred day moving average is $8.01.

MFS Investment Grade Municipal Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.034 per share. The ex-dividend date is Tuesday, March 17th. This represents a c) dividend on an annualized basis and a yield of 5.1%.

MFS Investment Grade Municipal Trust Company Profile

MFS Investment Grade Municipal Trust NYSE: CXH is a non-diversified, closed-end management investment company that seeks to provide shareholders with current income exempt from federal income taxes. Trading on the New York Stock Exchange since its inception in 1982, the fund primarily acquires investment-grade municipal securities, including general obligation and revenue bonds issued by states, municipalities and public authorities across the United States.

The trust's portfolio is constructed to balance credit quality and yield, focusing on bonds rated BBB or higher by nationally recognized rating agencies.

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