MFS High Yield Municipal Trust (NYSE:CMU) Short Interest Update

MFS High Yield Municipal Trust (NYSE:CMU) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 14,700 shares, a growth of 93.4% from the June 30th total of 7,600 shares. Based on an average daily volume of 49,900 shares, the days-to-cover ratio is presently 0.3 days.

MFS High Yield Municipal Trust Stock Performance

NYSE:CMU traded up $0.02 on Friday, reaching $3.50. 41,901 shares of the stock traded hands, compared to its average volume of 37,595. The company’s 50 day moving average is $3.40 and its 200-day moving average is $3.33. MFS High Yield Municipal Trust has a 1-year low of $2.78 and a 1-year high of $3.53.

MFS High Yield Municipal Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th will be given a dividend of $0.0145 per share. This represents a $0.17 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Tuesday, July 16th. This is an increase from MFS High Yield Municipal Trust’s previous monthly dividend of $0.01.

Institutional Trading of MFS High Yield Municipal Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMU. Stratos Wealth Partners LTD. acquired a new stake in MFS High Yield Municipal Trust during the 4th quarter valued at approximately $68,000. Blue Bell Private Wealth Management LLC grew its position in MFS High Yield Municipal Trust by 178.9% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 16,547 shares of the company’s stock valued at $55,000 after purchasing an additional 10,615 shares during the period. Wolverine Asset Management LLC acquired a new stake in MFS High Yield Municipal Trust in the 4th quarter valued at $72,000. WMG Financial Advisors LLC acquired a new stake in MFS High Yield Municipal Trust in the 4th quarter valued at $66,000. Finally, City of London Investment Management Co. Ltd. grew its position in MFS High Yield Municipal Trust by 39.1% in the 4th quarter. City of London Investment Management Co. Ltd. now owns 986,236 shares of the company’s stock valued at $3,264,000 after purchasing an additional 277,145 shares during the period. Institutional investors and hedge funds own 32.39% of the company’s stock.

MFS High Yield Municipal Trust Company Profile

MFS High Yield Municipal Trust 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.