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

MFS Investment Grade Municipal Trust (NYSE:CXH) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 53,100 shares, an increase of 136.0% from the October 31st total of 22,500 shares. Based on an average daily trading volume, of 20,400 shares, the short-interest ratio is currently 2.6 days.

MFS Investment Grade Municipal Trust Trading Up 1.3 %

Shares of CXH traded up $0.10 on Thursday, reaching $8.21. The company’s stock had a trading volume of 32,260 shares, compared to its average volume of 19,859. MFS Investment Grade Municipal Trust has a twelve month low of $7.14 and a twelve month high of $8.31. The firm has a fifty day moving average of $8.15 and a 200-day moving average of $7.98.

MFS Investment Grade Municipal Trust Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 3.87%. The ex-dividend date is Tuesday, November 12th.

Hedge Funds Weigh In On MFS Investment Grade Municipal Trust

A number of hedge funds have recently modified their holdings of the company. Capital Investment Advisors LLC boosted its holdings in shares of MFS Investment Grade Municipal Trust by 4.2% in the 3rd quarter. Capital Investment Advisors LLC now owns 36,362 shares of the company’s stock valued at $299,000 after buying an additional 1,462 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its holdings in MFS Investment Grade Municipal Trust by 233.0% in the second quarter. Blue Bell Private Wealth Management LLC now owns 4,859 shares of the company’s stock valued at $38,000 after purchasing an additional 3,400 shares in the last quarter. Melfa Wealth Management Inc. raised its stake in shares of MFS Investment Grade Municipal Trust by 17.4% during the second quarter. Melfa Wealth Management Inc. now owns 78,360 shares of the company’s stock worth $619,000 after purchasing an additional 11,630 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in MFS Investment Grade Municipal Trust in the second quarter valued at $236,000. Finally, Rothschild Investment LLC purchased a new stake in MFS Investment Grade Municipal Trust during the 2nd quarter worth about $377,000.

MFS Investment Grade Municipal Trust Company Profile

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.