Short Interest in MFS Investment Grade Municipal Trust (NYSE:CXH) Rises By 75.5%

Key Points

• Short interest in MFS Investment Grade Municipal Trust (NYSE: CXH) surged by 75.5% in August, rising from 9,400 shares to 16,500 shares.
• Several institutional investors have either increased their stakes or established new positions in CXH, with Raymond James Financial purchasing a stake valued at $230,000 in Q4.
• The company announced a monthly dividend of $0.034 per share, to be paid on September 30th, providing an annualized yield of 5.4%.

MFS Investment Grade Municipal Trust (NYSE:CXH - ) was the recipient of a significant growth in short interest in August. As of August 15th, there was short interest totaling 16,500 shares, agrowthof75.5% from the July 31st total of 9,400 shares. Based on an average trading volume of 30,600 shares, the days-to-cover ratio is presently 0.5 days. Based on an average trading volume of 30,600 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Investors Weigh In On MFS Investment Grade Municipal Trust

Several institutional investors have recently added to or reduced their stakes in CXH. Raymond James Financial Inc. purchased a new stake in MFS Investment Grade Municipal Trust during the 4th quarter valued at $230,000. Bank of New York Mellon Corp increased 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 valued at $595,000 after purchasing an additional 5,703 shares during the period. Sit Investment Associates Inc. increased its position in 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 purchasing an additional 12,143 shares during the period. Thomas J. Herzfeld Advisors Inc. increased its position 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 during the period. Finally, American National Bank & Trust purchased a new stake in shares of MFS Investment Grade Municipal Trust in the 2nd quarter worth about $153,000.

MFS Investment Grade Municipal Trust Trading Up 1.3%

Shares of CXH stock traded up $0.10 during trading hours on Friday, hitting $7.62. 5,052 shares of the company's stock were exchanged, compared to its average volume of 17,202. MFS Investment Grade Municipal Trust has a 12-month low of $7.34 and a 12-month high of $8.36. The business's 50 day simple moving average is $7.50 and its 200-day simple moving average is $7.67.

MFS Investment Grade Municipal Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.034 per share. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Tuesday, September 16th.

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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