MFS High Yield Municipal Trust (NYSE:CMU) Sees Significant Growth in Short Interest

MFS High Yield Municipal Trust (NYSE:CMU) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 46,100 shares, a growth of 347.6% from the October 15th total of 10,300 shares. Based on an average daily volume of 51,600 shares, the days-to-cover ratio is presently 0.9 days.

MFS High Yield Municipal Trust Trading Down 0.7 %

Shares of CMU stock traded down $0.03 on Tuesday, reaching $3.53. 73,880 shares of the stock were exchanged, compared to its average volume of 54,408. The firm has a 50 day moving average of $3.61 and a two-hundred day moving average of $3.49. MFS High Yield Municipal Trust has a 1-year low of $2.96 and a 1-year high of $3.70.

MFS High Yield Municipal Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th will be paid a $0.0145 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.17 dividend on an annualized basis and a yield of 4.93%.

Hedge Funds Weigh In On MFS High Yield Municipal Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ackerman Capital Advisors LLC acquired a new stake in MFS High Yield Municipal Trust during the 3rd quarter valued at $70,000. International Assets Investment Management LLC boosted its holdings in MFS High Yield Municipal Trust by 270.9% during the third quarter. International Assets Investment Management LLC now owns 46,398 shares of the company’s stock valued at $170,000 after acquiring an additional 33,890 shares during the period. Sanctuary Advisors LLC bought a new stake in MFS High Yield Municipal Trust during the second quarter valued at about $42,000. Graham Capital Wealth Management LLC acquired a new position in shares of MFS High Yield Municipal Trust during the second quarter valued at about $285,000. Finally, Almitas Capital LLC raised its position in shares of MFS High Yield Municipal Trust by 5.5% during the second quarter. Almitas Capital LLC now owns 91,488 shares of the company’s stock valued at $314,000 after buying an additional 4,759 shares during the last quarter. 32.39% of the stock is currently owned by institutional investors and hedge funds.

MFS High Yield Municipal Trust Company Profile

MFS High Yield Municipal Trust 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.