Short Interest in MFS High Income Municipal Trust (NYSE:CXE) Drops By 40.7%

Key Points

• Short interest in MFS High Income Municipal Trust (NYSE:CXE) has dropped by 40.7%, with total short interest decreasing from 110,300 shares to 65,400 shares as of August 31st.
• Hedge funds and institutional investors own 34.37% of MFS High Income Municipal Trust, with various funds increasing their positions in the company.
• The trust announced a monthly dividend of $0.018, representing a 5.8% annualized yield, payable on September 30th to shareholders of record on September 16th.

MFS High Income Municipal Trust (NYSE:CXE - ) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 65,400 shares, a decline of 40.7% from the August 15th total of 110,300 shares. Approximately 0.2% of the company's shares are sold short. Based on an average trading volume of 77,000 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 77,000 shares, the short-interest ratio is presently 0.8 days. Approximately 0.2% of the company's shares are sold short.

Hedge Funds Weigh In On MFS High Income Municipal Trust

A number of hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its position in MFS High Income Municipal Trust by 4.7% in the 4th quarter. Bank of America Corp DE now owns 1,262,545 shares of the company's stock worth $4,646,000 after buying an additional 56,854 shares during the last quarter. Almitas Capital LLC increased its position in shares of MFS High Income Municipal Trust by 13.6% during the 1st quarter. Almitas Capital LLC now owns 1,047,002 shares of the company's stock valued at $3,863,000 after purchasing an additional 125,165 shares during the last quarter. Whitebox Advisors LLC increased its position in shares of MFS High Income Municipal Trust by 7.4% during the 2nd quarter. Whitebox Advisors LLC now owns 483,300 shares of the company's stock valued at $1,730,000 after purchasing an additional 33,258 shares during the last quarter. Noble Wealth Management PBC increased its position in shares of MFS High Income Municipal Trust by 4.8% during the 1st quarter. Noble Wealth Management PBC now owns 142,585 shares of the company's stock valued at $526,000 after purchasing an additional 6,560 shares during the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. increased its position in shares of MFS High Income Municipal Trust by 29.5% during the 2nd quarter. Thomas J. Herzfeld Advisors Inc. now owns 121,587 shares of the company's stock valued at $435,000 after purchasing an additional 27,708 shares during the last quarter. Hedge funds and other institutional investors own 34.37% of the company's stock.

MFS High Income Municipal Trust Stock Performance

Shares of CXE stock traded down $0.01 during mid-day trading on Monday, reaching $3.72. 92,713 shares of the company's stock traded hands, compared to its average volume of 81,427. MFS High Income Municipal Trust has a 12 month low of $3.38 and a 12 month high of $4.03. The company's 50-day moving average price is $3.55 and its 200-day moving average price is $3.57.

MFS High Income Municipal Trust Announces Dividend

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

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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