MFS Investment Grade Municipal Trust (NYSE:CXH) Short Interest Update

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a large increase in short interest in July. As of July 31st, there was short interest totalling 27,600 shares, an increase of 19.5% from the July 15th total of 23,100 shares. Based on an average daily volume of 17,700 shares, the short-interest ratio is presently 1.6 days.

MFS Investment Grade Municipal Trust Trading Up 0.2 %

NYSE:CXH opened at $8.08 on Friday. The firm’s 50 day simple moving average is $7.94 and its 200 day simple moving average is $7.66. MFS Investment Grade Municipal Trust has a one year low of $6.41 and a one year high of $8.15.

MFS Investment Grade Municipal Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, August 30th. Investors of record on Tuesday, August 13th will be given a dividend of $0.026 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $0.31 annualized dividend and a yield of 3.86%.

Institutional Investors Weigh In On MFS Investment Grade Municipal Trust

Several hedge funds have recently added to or reduced their stakes in the business. Whitebox Advisors LLC acquired a new stake in MFS Investment Grade Municipal Trust during the 2nd quarter worth approximately $384,000. Blue Bell Private Wealth Management LLC raised its holdings in MFS Investment Grade Municipal Trust by 233.0% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 4,859 shares of the company’s stock worth $38,000 after purchasing an additional 3,400 shares during the last quarter. Rothschild Investment LLC bought a new position in MFS Investment Grade Municipal Trust during the 2nd quarter worth approximately $377,000. Bank of New York Mellon Corp bought a new position in MFS Investment Grade Municipal Trust during the 2nd quarter worth approximately $236,000. Finally, Melfa Wealth Management Inc. raised its holdings in MFS Investment Grade Municipal Trust by 17.4% during the 2nd 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.

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.