Short Interest in MFS High Yield Municipal Trust (NYSE:CMU) Drops By 18.7%

MFS High Yield Municipal Trust (NYSE:CMU) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 232,400 shares, a drop of 18.7% from the February 13th total of 285,800 shares. Currently, 0.9% of the company’s shares are sold short. Based on an average daily trading volume, of 58,100 shares, the days-to-cover ratio is presently 4.0 days.

MFS High Yield Municipal Trust Stock Up 0.6 %

Shares of NYSE:CMU traded up $0.02 during trading on Thursday, hitting $3.54. The stock had a trading volume of 7,541 shares, compared to its average volume of 49,812. The firm’s fifty day moving average is $3.55 and its 200 day moving average is $3.58. MFS High Yield Municipal Trust has a 12 month low of $3.20 and a 12 month high of $3.70.

MFS High Yield Municipal Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.0145 per share. This represents a $0.17 annualized dividend and a dividend yield of 4.92%. The ex-dividend date is Tuesday, March 18th.

Institutional Trading of MFS High Yield Municipal Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMU. Sit Investment Associates Inc. raised its holdings in shares of MFS High Yield Municipal Trust by 106.8% in the fourth quarter. Sit Investment Associates Inc. now owns 2,002,639 shares of the company’s stock worth $7,049,000 after buying an additional 1,034,353 shares during the period. Bulldog Investors LLP increased its holdings in shares of MFS High Yield Municipal Trust by 73.0% in the fourth quarter. Bulldog Investors LLP now owns 2,345,443 shares of the company’s stock valued at $8,280,000 after purchasing an additional 989,618 shares during the period. Rivernorth Capital Management LLC raised its position in MFS High Yield Municipal Trust by 19.9% during the third quarter. Rivernorth Capital Management LLC now owns 1,320,718 shares of the company’s stock valued at $4,840,000 after acquiring an additional 219,483 shares in the last quarter. Almitas Capital LLC grew its stake in MFS High Yield Municipal Trust by 143.6% in the 4th quarter. Almitas Capital LLC now owns 344,105 shares of the company’s stock valued at $1,211,000 after acquiring an additional 202,845 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. lifted its stake in shares of MFS High Yield Municipal Trust by 76.3% in the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 284,360 shares of the company’s stock worth $1,001,000 after buying an additional 123,039 shares in the last quarter. Institutional investors own 32.39% of the company’s stock.

About MFS High Yield Municipal Trust

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.