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

MFS Investment Grade Municipal Trust (NYSE:CXH) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 6,300 shares, a decrease of 8.7% from the March 31st total of 6,900 shares. Based on an average daily trading volume, of 19,500 shares, the short-interest ratio is currently 0.3 days.

MFS Investment Grade Municipal Trust Trading Down 0.4 %

CXH stock traded down $0.03 during trading on Monday, hitting $7.31. 33,106 shares of the company traded hands, compared to its average volume of 21,298. The company has a 50-day moving average of $7.50 and a 200-day moving average of $7.36. MFS Investment Grade Municipal Trust has a 1 year low of $6.41 and a 1 year high of $7.74.

MFS Investment Grade Municipal Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 17th will be issued a $0.025 dividend. This represents a $0.30 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Tuesday, April 16th.

Institutional Investors Weigh In On MFS Investment Grade Municipal Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC purchased a new position in shares of MFS Investment Grade Municipal Trust in the fourth quarter valued at about $41,000. Clough Capital Partners L P bought a new position in MFS Investment Grade Municipal Trust during the 3rd quarter valued at approximately $78,000. Fort Point Capital Partners LLC purchased a new stake in MFS Investment Grade Municipal Trust in the 3rd quarter worth approximately $139,000. Robinson Capital Management LLC bought a new stake in shares of MFS Investment Grade Municipal Trust in the 3rd quarter worth approximately $302,000. Finally, Thomas J. Herzfeld Advisors Inc. increased its stake in shares of MFS Investment Grade Municipal Trust by 5,898.7% during the third quarter. Thomas J. Herzfeld Advisors Inc. now owns 50,389 shares of the company’s stock valued at $356,000 after buying an additional 49,549 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.