MFS Investment Grade Municipal Trust (NYSE:CXH) Sees Large Increase in Short Interest

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 22,500 shares, an increase of 155.7% from the October 15th total of 8,800 shares. Based on an average daily trading volume, of 19,100 shares, the days-to-cover ratio is currently 1.2 days.

MFS Investment Grade Municipal Trust Stock Performance

CXH opened at $8.08 on Friday. MFS Investment Grade Municipal Trust has a fifty-two week low of $7.00 and a fifty-two week high of $8.31. The firm’s fifty day moving average is $8.16 and its 200 day moving average is $7.94.

MFS Investment Grade Municipal Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.0265 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Tuesday, November 12th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CXH. Graham Capital Wealth Management LLC bought a new stake in MFS Investment Grade Municipal Trust in the 2nd quarter valued at $521,000. Whitebox Advisors LLC bought a new stake in MFS Investment Grade Municipal Trust in the 2nd quarter valued at $384,000. Rothschild Investment LLC bought a new stake in MFS Investment Grade Municipal Trust in the 2nd quarter valued at $377,000. Bank of New York Mellon Corp bought a new stake in MFS Investment Grade Municipal Trust in the 2nd quarter valued at $236,000. Finally, Melfa Wealth Management Inc. increased its holdings in MFS Investment Grade Municipal Trust by 17.4% in the 2nd quarter. Melfa Wealth Management Inc. now owns 78,360 shares of the company’s stock valued at $619,000 after acquiring an additional 11,630 shares during 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.