MFS Investment Grade Municipal Trust (NYSE:CXH) Shares Up 0.5% - Time to Buy?

MFS Investment Grade Municipal Trust (NYSE:CXH - Get Free Report) shares shot up 0.5% during trading on Monday . The stock traded as high as $7.67 and last traded at $7.67. 38,696 shares traded hands during mid-day trading, an increase of 121% from the average session volume of 17,535 shares. The stock had previously closed at $7.63.

MFS Investment Grade Municipal Trust Stock Performance

The stock has a fifty day simple moving average of $7.62 and a 200-day simple moving average of $7.83.

MFS Investment Grade Municipal Trust Announces Dividend

The company also recently announced a -- dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were paid a $0.032 dividend. This represents a yield of 4.3%. The ex-dividend date was Tuesday, June 17th.

Hedge Funds Weigh In On MFS Investment Grade Municipal Trust

A number of large investors have recently modified their holdings of the business. Sit Investment Associates Inc. boosted its position in MFS Investment Grade Municipal Trust by 50.4% during the fourth quarter. Sit Investment Associates Inc. now owns 560,546 shares of the company's stock valued at $4,479,000 after purchasing an additional 187,786 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of MFS Investment Grade Municipal Trust by 41.0% in the 4th quarter. Bank of New York Mellon Corp now owns 69,402 shares of the company's stock valued at $555,000 after purchasing an additional 20,186 shares during the period. Raymond James Financial Inc. acquired a new stake in MFS Investment Grade Municipal Trust in the 4th quarter valued at about $230,000. Bulldog Investors LLP increased its position in MFS Investment Grade Municipal Trust by 58.2% during the fourth quarter. Bulldog Investors LLP now owns 710,459 shares of the company's stock worth $5,679,000 after buying an additional 261,451 shares during the last quarter. Finally, LPL Financial LLC raised its stake in MFS Investment Grade Municipal Trust by 52.0% in the fourth quarter. LPL Financial LLC now owns 18,137 shares of the company's stock valued at $145,000 after buying an additional 6,201 shares during the period.

MFS Investment Grade Municipal Trust Company Profile

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.