MFS Investment Grade Municipal Trust (NYSE:CXH) Short Interest Up 5.1% in January

MFS Investment Grade Municipal Trust (NYSE:CXH) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 31,200 shares, an increase of 5.1% from the January 15th total of 29,700 shares. Based on an average trading volume of 19,500 shares, the days-to-cover ratio is currently 1.6 days.

MFS Investment Grade Municipal Trust Trading Up 0.3 %

Shares of NYSE:CXH traded up $0.03 during mid-day trading on Monday, reaching $8.08. 4,997 shares of the company traded hands, compared to its average volume of 15,935. The company’s 50 day moving average price is $8.02 and its 200-day moving average price is $8.10. MFS Investment Grade Municipal Trust has a 52 week low of $7.30 and a 52 week high of $8.36.

MFS Investment Grade Municipal Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be paid a $0.0265 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.32 annualized dividend and a yield of 3.94%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bulldog Investors LLP boosted its stake in MFS Investment Grade Municipal Trust by 58.2% in the 4th quarter. Bulldog Investors LLP now owns 710,459 shares of the company’s stock worth $5,679,000 after purchasing an additional 261,451 shares during the period. Sit Investment Associates Inc. boosted its stake in MFS Investment Grade Municipal Trust by 50.4% in the 4th quarter. Sit Investment Associates Inc. now owns 560,546 shares of the company’s stock worth $4,479,000 after purchasing an additional 187,786 shares during the period. Rivernorth Capital Management LLC boosted its stake in MFS Investment Grade Municipal Trust by 17.7% in the 3rd quarter. Rivernorth Capital Management LLC now owns 402,574 shares of the company’s stock worth $3,309,000 after purchasing an additional 60,569 shares during the period. Icon Advisers Inc. Co. boosted its stake in MFS Investment Grade Municipal Trust by 3.3% in the 4th quarter. Icon Advisers Inc. Co. now owns 244,295 shares of the company’s stock worth $1,952,000 after purchasing an additional 7,777 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in MFS Investment Grade Municipal Trust by 45.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 158,542 shares of the company’s stock worth $1,267,000 after purchasing an additional 49,420 shares during the period.

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.