MFS High Income Municipal Trust (NYSE:CXE) Short Interest Up 12.9% in June

MFS High Income Municipal Trust (NYSE:CXE) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 69,000 shares, a growth of 12.9% from the May 31st total of 61,100 shares. Based on an average trading volume of 51,000 shares, the short-interest ratio is presently 1.4 days.

MFS High Income Municipal Trust Price Performance

CXE traded up $0.04 during trading hours on Wednesday, reaching $3.74. 25,754 shares of the company’s stock traded hands, compared to its average volume of 52,315. The firm has a 50-day moving average price of $3.62 and a 200 day moving average price of $3.59. MFS High Income Municipal Trust has a 52-week low of $2.95 and a 52-week high of $3.76.

MFS High Income Municipal Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th will be paid a dividend of $0.016 per share. This is a positive change from MFS High Income Municipal Trust’s previous monthly dividend of $0.02. This represents a $0.19 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date of this dividend is Tuesday, July 16th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Matisse Capital bought a new position in MFS High Income Municipal Trust in the first quarter worth approximately $265,000. Commonwealth Equity Services LLC lifted its holdings in shares of MFS High Income Municipal Trust by 0.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 692,430 shares of the company’s stock worth $2,514,000 after buying an additional 4,339 shares during the period. Blue Bell Private Wealth Management LLC grew its position in shares of MFS High Income Municipal Trust by 27.9% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 40,548 shares of the company’s stock worth $147,000 after buying an additional 8,836 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of MFS High Income Municipal Trust by 20.3% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 712,438 shares of the company’s stock valued at $2,586,000 after acquiring an additional 120,232 shares in the last quarter. Finally, Sanders Morris Harris LLC purchased a new stake in MFS High Income Municipal Trust in the first quarter worth about $338,000. 34.37% of the stock is currently owned by institutional investors.

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.