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

MFS Investment Grade Municipal Trust (NYSE:CXH) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 17,900 shares, a decline of 10.1% from the August 15th total of 19,900 shares. Based on an average trading volume of 14,900 shares, the short-interest ratio is currently 1.2 days.

MFS Investment Grade Municipal Trust Stock Performance

Shares of NYSE:CXH traded down $0.03 during trading on Tuesday, reaching $8.21. The stock had a trading volume of 46,360 shares, compared to its average volume of 19,775. The business has a fifty day moving average price of $8.06 and a 200-day moving average price of $7.75. MFS Investment Grade Municipal Trust has a 1-year low of $6.41 and a 1-year high of $8.28.

MFS Investment Grade Municipal Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 17th will be given a dividend of $0.0265 per share. This is an increase from MFS Investment Grade Municipal Trust’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, September 17th. This represents a $0.32 dividend on an annualized basis and a yield of 3.87%.

Hedge Funds Weigh In On MFS Investment Grade Municipal Trust

A number of institutional investors have recently added to or reduced their stakes in the stock. Bulldog Investors LLP lifted its position in MFS Investment Grade Municipal Trust by 28.7% during the fourth quarter. Bulldog Investors LLP now owns 389,857 shares of the company’s stock worth $2,951,000 after buying an additional 86,927 shares in the last quarter. Melfa Wealth Management Inc. lifted its position in 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 buying an additional 11,630 shares in the last quarter. Graham Capital Wealth Management LLC purchased a new position in MFS Investment Grade Municipal Trust during the second quarter worth approximately $521,000. Whitebox Advisors LLC purchased a new position in MFS Investment Grade Municipal Trust during the second quarter worth approximately $384,000. Finally, Rothschild Investment LLC purchased a new stake in MFS Investment Grade Municipal Trust in the second quarter valued at $377,000.

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.