MFS Investment Grade Municipal Trust (NYSE:CXH - Get Free Report) shot up 0.3% during trading on Tuesday . The stock traded as high as $7.40 and last traded at $7.38. 28,933 shares traded hands during mid-day trading, an increase of 37% from the average session volume of 21,123 shares. The stock had previously closed at $7.36.
MFS Investment Grade Municipal Trust Stock Up 0.4%
The firm has a 50 day simple moving average of $7.56 and a 200 day simple moving average of $7.77.
MFS Investment Grade Municipal Trust Increases Dividend
The business also recently announced a monthly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be paid a $0.034 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $0.41 annualized dividend and a yield of 5.53%. This is an increase from MFS Investment Grade Municipal Trust's previous monthly dividend of $0.03.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Bulldog Investors LLP boosted its position in shares of MFS Investment Grade Municipal Trust by 58.2% during the 4th quarter. Bulldog Investors LLP now owns 710,459 shares of the company's stock valued at $5,679,000 after acquiring an additional 261,451 shares during the last quarter. Sit Investment Associates Inc. boosted its position in shares of MFS Investment Grade Municipal Trust by 2.2% during the 1st quarter. Sit Investment Associates Inc. now owns 572,689 shares of the company's stock valued at $4,536,000 after acquiring an additional 12,143 shares during the last quarter. Icon Advisers Inc. Co. boosted its position in shares of MFS Investment Grade Municipal Trust by 3.3% during the 4th quarter. Icon Advisers Inc. Co. now owns 244,295 shares of the company's stock valued at $1,952,000 after acquiring an additional 7,777 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. boosted its position in shares of MFS Investment Grade Municipal Trust by 24.2% during the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 120,541 shares of the company's stock valued at $955,000 after acquiring an additional 23,453 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of MFS Investment Grade Municipal Trust by 8.2% during the 1st quarter. Bank of New York Mellon Corp now owns 75,105 shares of the company's stock valued at $595,000 after acquiring an additional 5,703 shares during the last quarter.
About MFS Investment Grade Municipal Trust
(
Get Free Report)
MFS Investment Grade Municipal 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.
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