Short Interest in MFS Investment Grade Municipal Trust (NYSE:CXH) Decreases By 57.0%

Key Points

• Short interest in MFS Investment Grade Municipal Trust decreased by 57.0% in August, dropping from 16,500 shares to 7,100 shares.
• The company's monthly dividend of $0.034 will be paid on September 30th, with a dividend yield of 5.2% based on current stock prices.
• Several institutional investors increased their stakes in the trust, including Bank of New York Mellon Corp, which lifted its position by 8.2% during the first quarter.

MFS Investment Grade Municipal Trust (NYSE:CXH - ) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 7,100 shares, a drop of 57.0% from the August 15th total of 16,500 shares. Based on an average daily trading volume, of 30,400 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the company's shares are short sold. Approximately 0.1% of the company's shares are short sold. Based on an average daily trading volume, of 30,400 shares, the short-interest ratio is presently 0.2 days.

MFS Investment Grade Municipal Trust Price Performance

CXH remained flat at $7.86 during trading on Friday. 24,389 shares of the company's stock traded hands, compared to its average volume of 20,074. MFS Investment Grade Municipal Trust has a 12 month low of $7.34 and a 12 month high of $8.36. The stock's 50-day moving average is $7.51 and its 200 day moving average is $7.66.

MFS Investment Grade Municipal Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $0.034 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a c) annualized dividend and a dividend yield of 5.2%.

Institutional Investors Weigh In On MFS Investment Grade Municipal Trust

Several hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in 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 worth $595,000 after acquiring an additional 5,703 shares in the last quarter. Sit Investment Associates Inc. boosted its stake in shares of MFS Investment Grade Municipal Trust by 2.2% in the first quarter. Sit Investment Associates Inc. now owns 572,689 shares of the company's stock valued at $4,536,000 after purchasing an additional 12,143 shares during the period. Thomas J. Herzfeld Advisors Inc. grew its holdings in 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 purchasing an additional 23,453 shares in the last quarter. American National Bank & Trust purchased a new stake in MFS Investment Grade Municipal Trust during the 2nd quarter worth $153,000. Finally, Bank of America Corp DE lifted its holdings in MFS Investment Grade Municipal Trust by 11.9% in the 2nd quarter. Bank of America Corp DE now owns 17,500 shares of the company's stock worth $134,000 after buying an additional 1,860 shares in the last quarter.

About MFS Investment Grade Municipal Trust

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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